Should my 2020 estimated taxes be 11% higher than my total 2019 taxes?

[KathrynG3]

Possibly. It will depend on your income levels. 

The rule to prevent penalty assessment for taxpayers whose filing status is married filing jointly with AGI of $150,000 or less (single with AGI of $75,000 or less) is: 

 Taxes must be paid through the current year to equal the lower of either

• 100% of the prior year OR
• 90% of the current year

The rule to prevent penalty assessment for taxpayers whose filing status is married filing jointly with AGI of $150,000 or more (single with AGI of $75,000 or more) is: 

 Taxes must be paid through the current year to equal the lower of either

• 110% of the prior year OR
• 100% of the current year