Esmating Taxes

Dec 14, 2010 2 Replies

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W. Baker 15 years ago

My beloved husband died this year(2010) aand I have been informed tht I can file a joint return for this year but wil, of course, have to file as single next year.

When I so my extimated taxes I generall try to assume same tax as last year when setting my payments, etc. should I underestimate in those circumstances I incurr no penalty. Can I use this system for my 2011 extimated taxes when I will be filing singly rr is it regared as some kind of totally new tax unit so I will have to try to figure more closely>

Wendy Baker

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Phil Marti 15 years ago

My condolences on your loss. You can safely base your 2011 estimated tax payments on your 2010 joint total tax. Make sure to use your SSN on the vouchers or through

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Also remember to look at your 2010 1099 reporting douments to see if any ongoing joint accounts were reporting under your husband's SSN. You'll want to notify those payors to update their records.

Phil Marti VITA/TCE Volunteer Clarksburg, MD

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removeps-groups 15 years ago

Sorry. If you have a qualifying child, you can file as a qualifying widower with child for the next 2 years (unless you remarry, in which case you will file joint or married-filing-separate). This filing status gives you the same tax rates as married filing jointly, standard deduction double that of single, etc. It's not equal to married filing jointly in every way though.

With your husband passed away will your income be less? If it is all investment income then probably not.

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