If your gross income for the first quarter of 2009 is zero, then no estimated tax payment is required for the first quarter. However, at year-end you should complete Form 2210, especially Part IV and Schedule A1 of the form, in order to show that you had no gross income for the first quarter of the year, and therefore, no estimated payment was due. Form 2210 should be attached to your 2009 Form 1040. Form 2210 is 'Underpayment of Estimated Tax by Individuals, Estates, and Trusts'. Form 2210 is used to compute, avoid, or mitigate the Penalty for Failure to Make Estimated Tax Payments.
If your gross income for the first quarter of 2009 is zero, then no estimated tax payment is required for the first quarter. However, at year-end you should complete Form 2210, especially Part IV and Schedule A1 of the form, in order to show that you had no gross income for the first quarter of the year, and therefore, no estimated payment was due. Form 2210 should be attached to your 2009 Form 1040. Form 2210 is 'Underpayment of Estimated Tax by Individuals, Estates, and Trusts'. Form 2210 is used to compute, avoid, or mitigate the Penalty for Failure to Make Estimated Tax Payments.
Thank you very much for your expertise, prompt reply, and precise information. This is exactly the information I unsuccessfully searched for, but did not find. Your willingness to help is greatly appreciated.
Best Regards,
Dave
lghancock | Performer | 3/26/2009 - 6:38 pm
dneuweiler | Performer | 3/27/2009 - 9:27 am
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