You're welcome. It makes sense, and yes, if you know certain things are consistent every month, you can use that method to figure them, with a slight change- figure based on months because the quart...
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You're welcome. It makes sense, and yes, if you know certain things are consistent every month, you can use that method to figure them, with a slight change- figure based on months because the quarter 1 estimate is based on income earned from 1/1-3/31, while quarter 2 is based on income earned from 1/1-5/31, and quarter 3 is based on income earned from 1/1-8/31.
If their income varies, for example if they don't make consistent 401(k) withdrawals, you'll need to be precise and verify the dates they received their income.
Also, you'll be asked for their adjusted gross income for each period, so that will be the total of all the income that is reported on their 1040, line 11 (don't deduct the standard deduction). You'll next be asked about the capital gain, if the home was the only capital gain, you'll not enter anything there, and the amount will be assigned to quarter 4.
You will not be asked to enter the standard deduction, it's automatically added to the penalty form (Form 2210) page 3, line 7.