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How do I get back to annualizing income?

 
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PatriciaV
Expert Alumni

How do I get back to annualizing income?

Yes, you may return to this section under Other Tax Situations >> Additional Tax Payments >> Underpayment Penalties.

Find this quickly by searching on "underpayment penalties" and using the jump-to link to the start of the section.

Complete the interview questions for this topic to allocate your income and expenses to the correct quarter of the year. Look for the page "Annualized Income Method" (see screenshot below - click to enlarge). This may reduce and/or eliminate your underpayment penalty.

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