It depends. Are you referring to 2025? If so, TurboTax is going to take all of your income and then calculate the tax for 2025, divide the amount to pay in estimates by the payment quarters to arrive at the estimated tax. You can change the amounts to pay what you want and you can also use the IRS Make a Payment online.
If you want to pay as the money is owed and track for the annualized method, should you need to use it in 2025, then you can do the following to keep out of the penalty phase.
Generally, you can avoid the penalty if your total timely estimated payments and withholdings are greater than or equal to the lesser of:
- 90% of the total tax after credits for the current year, or
- 100% of the total tax after credits in the prior year
- See one exception below.
You can also avoid the penalty if the amount you owe is less than $1,000 as long as any estimated tax payments you made are timely.
Note: High-income taxpayers. If your adjusted gross income (line 11 of your 2023 Form 1040) is greater than $150,000 (or $75,000 if you're married and file a separate return from your spouse), you can avoid a penalty by paying at least 110% of your total tax from the prior year.
To add additional money to any specific quarter for capital gains you can take the long term gains and multiply by the capital gains tax rate for your income level (maximum 20%) and add that payment to the quarter in question.
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