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See https://www.irs.gov/payments/underpayment-of-estimated-tax-by-individuals-penalty
To avoid a penalty, pay your correct estimated taxes on time.
You may avoid the Underpayment of Estimated Tax by Individuals Penalty if:
No, if you are sure you don't need it. The estimates are optional to pay .
I’m recent TurboTax estimate shows I overpaid my taxes for the year. And my estimates confirm it. Due to December stock loss harvest, I’ve paid well enough but not as much as last year. Do I still have to pay the 4Q payment?
@Rarichman2244 wrote:
I’m recent TurboTax estimate shows I overpaid my taxes for the year. And my estimates confirm it. Due to December stock loss harvest, I’ve paid well enough but not as much as last year. Do I still have to pay the 4Q payment?
Answered in your prior post for the same subject here - https://ttlc.intuit.com/community/taxes/discussion/4th-quarter-estimated-tax-payment/00/2812518
Even if the total is less than last year’s taxes?
@Rarichman2244 wrote:
Even if the total is less than last year’s taxes?
Yes
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