I have past years I have made Colorado state estimated tax quarterly payments; however, my 2018 earnings situation has changed significantly. TurboTax helped me estimate that I will be paying a little less than $1,200 Federal income tax for 2018. I will have enough federal withholding from one of my income sources to cover this amount, so I will not be making federal estimated tax quarterly payments. However, I do not have any Colorado state taxes being withheld. Do I need to pay Colorado state estimated tax quarterly payments? If so, how do I decide how much to pay each quarter?
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If you don't have any Colorado state taxes being withheld, you should consider making estimated payments in order to avoid an underpayment penalty on your return.
To calculate estimated payments, please follow these steps:
[Edited | 4/15/2020 | 7:40am PDT]
If you don't have any Colorado state taxes being withheld, you should consider making estimated payments in order to avoid an underpayment penalty on your return.
To calculate estimated payments, please follow these steps:
[Edited | 4/15/2020 | 7:40am PDT]
Is it possible to access the filed state tax return to estimate the 2021 taxes? Is it possible to get back into the state tax return to calculate the estimated taxes when they have been filed?
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