estimated tax remainder of 2024

Forum|Forum|1 year ago
August 28, 2024
1 reply
0 views

I've always offset my taxable captial gains by adding an additional tax amount to my W2 equal to those estimated/realised gains
This year I was laid off mid year, lost that option, and have not yet returned to work

How would I use quarterly tax filing in this scenario

Thanks

JandKit

H drkillfish

The process used in the past can be used with the estimated tax payments. Please remember that the payments should be made quarterly and should cover any untaxed income made in each quarter. Using the very same method used prior, estimate the amount expected to be received from your investments. Total this amount for the year and divide by 4. This will give you the amount to pay in each quarter. Your payments can then be made via form 1040-es found here:

https://www.irs.gov/pub/irs-pdf/f1040es.pdf

https://www.irs.gov/payments

Thank you for the opportunity to assist with your question!

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"