1947665
You'll need to sign in or create an account to connect with an expert.
The Annualized Method determines your estimated tax liability as your income accumulates throughout the year instead of dividing your entire year’s estimated tax liability by four as if your income was earned evenly.
So, if your income is concentrated, for example, in the fourth quarter of the year you may be able to use the annualized income method.
If this does not apply to you and your income is even throughout the year, you can divide your annual income by four for quarterly estimated payments.
Click this link for more info on Estimated Tax Payments.
Yes, you can claim Itemized Deductions for your Mortgage, Property Tax, Charitable Contributions, Medical Expenses, etc. in the Deductions & Credits section.
If you chose 'Explore on My Own' you will get a list of Deduction topics you can work on.
This link gives details on Itemizing Deductions.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
lthill
New Member
jstroebel
Level 2
GreenHaven
Level 2
bryangilmer
New Member
Bob7771
New Member