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The estimated taxes are based on your income from 2023. If you don't expect your income to be as high this year as it was last year then no you don't need to pay the estimated taxes. Sounds like your income was higher than usual because of the sale of a property but won't be that high again.
The vouchers are printed out, assuming that you would have an income in 2024, similar to the one in 2023.
If you won't have the same income, you can either lower the amount of estimated taxes, or skip paying them.
These vouchers aren't reported to the IRS.
Turbotax calculates estimated payments for 2024 assuming that 2024 will be similar to 2023, and to reduce the possibility of owing a penalty for not having enough withholding or payments. If you know your income and taxes will be less, you can ignore the suggested payments or make a different payment amount based on your own analysis of your situation.
The estimated taxes are based on your income from 2023. If you don't expect your income to be as high this year as it was last year then no you don't need to pay the estimated taxes. Sounds like your income was higher than usual because of the sale of a property but won't be that high again.
Many thanks! Yes, the sale of the rental property was a one time event so next year for 2024 return it’ll just be W2 income and some dividends.
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