Skip to main content
April 18, 2023
Solved

Where do i find the Annualized Income Installment Worksheet?

  • April 18, 2023
  • 1 reply
  • 0 views
I do not want to use the Annualized Income Installment Worksheet
Best answer by RobertB4444

If you'll go over to "Other Tax Situations" on the right side at the top of the screen and then scroll down to "Underpayment Penalties" you will be able to annualize your income there.  

 

That involves breaking your annual income up by quarters.  If you earned a significant portion of your income in the latter part of the year you may be able to reduce or eliminate your penalties by doing this.  

 

If all your income was earned evenly through out the year then this worksheet will not benefit you and you don't need to use it.

 

@sandysinlge11 

1 reply

January 16, 2024

If you'll go over to "Other Tax Situations" on the right side at the top of the screen and then scroll down to "Underpayment Penalties" you will be able to annualize your income there.  

 

That involves breaking your annual income up by quarters.  If you earned a significant portion of your income in the latter part of the year you may be able to reduce or eliminate your penalties by doing this.  

 

If all your income was earned evenly through out the year then this worksheet will not benefit you and you don't need to use it.

 

@sandysinlge11 

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