Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Returning Member
posted Mar 25, 2024 5:34:35 PM

Depends on Income Size

The larger your income, the more you have to pay. At a certain level, you are required to pay 110%. I do this for quarters 1, 2 and 3. When quarter 4 comes around, I look to see if my income will be the same or less than the previous year. If my income will be the same or less, I true up my Q4 payment to be 100% of the tax I owed in the previous year. If my income will be more than the previous year, I pay Q4 at 110%.

The alternative is to always pay what TurboTax tells you, and you will have a nice refund or an amount to apply to your next year's taxes.

0 2 1250
2 Replies
Level 15
Mar 25, 2024 5:37:41 PM

@loukur   It looks like you are posting answers but they are not added as reply to the questions.  They are posting as new questions by themselves.

Returning Member
Mar 25, 2024 5:42:35 PM

Guess I need to pay more attention.