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April 6, 2023
Question

California state return: Owe money and income was less in later months. Where to report my income by quarter? Thanks!

  • April 6, 2023
  • 1 reply
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What option is this in Turbotax?  They said it might lessen how much I owe, but I can no longer find it.

1 reply

April 7, 2023

Look for the Underpayment Penalty= you will want to use the Annualized Method.  If your income varied during the year, you may be able to lower or eliminate the amount of one or more required installments by using the annualized income installment method.