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Vanhawk
Level 2

estimated tax payments

I have enough withholding from my W2 to cover my earned tax liability.  I often get capital gain and dividend distributions  in December that put me into owing taxes.  It usually is more than the 90% rule allows.  Can I just make one estimated tax payment in Jan to cover the liability or will I be penalized for not paying 4 equal estimated tax payments?  Thanks

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npierson7
Level 1

estimated tax payments

Yes, you can skip quarterly estimated tax payments altogether or just make a singe payment and not be liable for underpayment penalties  if you have enough withholding during the year.

 

You can learn ore about the estimate tax payments here:  

 

Estimated Taxes: Common Questions

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2 Replies
npierson7
Level 1

estimated tax payments

Yes, you can skip quarterly estimated tax payments altogether or just make a singe payment and not be liable for underpayment penalties  if you have enough withholding during the year.

 

You can learn ore about the estimate tax payments here:  

 

Estimated Taxes: Common Questions

Vanhawk
Level 2

estimated tax payments

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