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May 6, 2021
Question

Freelance AGI only? 1040-ES

  • May 6, 2021
  • 1 reply
  • 0 views
Thanks for your time.
 
I have a question about estimating quarterly payments.
 
If I have a W-2 job and also freelance, do I include my W-2 wages on line 1 of the 1040-ES when calculating my AGI, or do I just use my freelance AGI?
 
For context, my employer withholds Federal, Social Security, Medicare, and State taxes from my paychecks.

1 reply

Employee
May 6, 2021

Include all income. Your W-2 tax withheld will be accounted for on line 13 of that form. 

May 6, 2021

I see....

 

So Line 13 would only be the income tax estimated to be withheld from my W-2 job, correct?

Employee
May 6, 2021

Correct.