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I had to pay a large amount due to cashing in my full annuity. I will not have that in the future. Now am being to told to send in vouchers quarterly. How to avoid this?

this also brought my taxable portion of SSA way up. did I do it right?
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I had to pay a large amount due to cashing in my full annuity. I will not have that in the future. Now am being to told to send in vouchers quarterly. How to avoid this?

Turbo Tax is very conservative and doesn't want you to owe next year.  They might have printed out if you got a big one time increase in income.   like if you took a IRA or 401K Withdrawal or had a big stock gain.  They are optional to pay.  They don't get sent in with your tax return so the IRS won't be expecting them.  You can ignore them.  Just shred them.  

rjs
Level 15
Level 15

I had to pay a large amount due to cashing in my full annuity. I will not have that in the future. Now am being to told to send in vouchers quarterly. How to avoid this?


@m-nstafford wrote:
this also brought my taxable portion of SSA way up. did I do it right?

We can't see your tax return, but having higher income is likely to increase the taxable portion of your Social Security benefits.

 

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