Estimated Taxes

[stevieD9]

My wife is retiring and shutting down her business halfway through 2024, and I'm at loss how to calculate her estimated taxes. Using 2023 tax info would result in a large overpayment. Changing the 2024 estimated income in the TurboTax worksheet to our best guess results in a ridiculously low number which would almost certainly be an underpayment. They should be about half the estimates we paid in 2023...

[KrisD15]

You also have the option of making only the first two of the payments, which might be the solution for your situation.