I'm retired under 60, MFJ, have interest and dividend income throughout the year, capital gain income in Dec., also did a rIRA conversion in Dec., we had just a $30 FICA withholding from a small settlement, and just paid $2,000 est. tax to the IRS and $1,300 est. tax to CA FTB. I ran the numbers in a tax calculator, and it shows my total tax liability is about $2,300 to the IRS and about $1,350 to FTB.
Our federal taxable income is about 46K. It looks like when using my tax software I need to file IRS 2210 and explain that most of my income and est. tax paid was both in Q4 to avoid penalty and interest or something? But just found out my tax software Cash App Taxes does not support form 2210.
I'm not sure about CA if I can avoid penalties.
Our federal taxable income is about 46K. It looks like when using my tax software I need to file IRS 2210 and explain that most of my income and est. tax paid was both in Q4 to avoid penalty and interest or something? But just found out my tax software Cash App Taxes does not support form 2210.
I'm not sure about CA if I can avoid penalties.
Statistics: Posted by runr — Mon Jan 15, 2024 3:59 pm — Replies 1 — Views 203