Asked by e
Carrie, a self-employed singer, had a 2024 California adjusted gross income of $250,000 and estimates that she will make more in 2025. Her 2024 California income tax was $19,450. What is the minimum she will need to make in estimated payments to California to avoid a penalty?
a
$17,505.
b
$19,450.
c
$21,395.
d
$25,000.
All Answers 1
Answered by
GPT-5 mini
AI
c $21,395.
Because her 2024 CA AGI is over $150,000, the prior-year safe harbor is 110% of last year's tax: 1.10 × $19,450 = $21,395 (the minimum to avoid an estimated‑tax penalty).
Because her 2024 CA AGI is over $150,000, the prior-year safe harbor is 110% of last year's tax: 1.10 × $19,450 = $21,395 (the minimum to avoid an estimated‑tax penalty).
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