A nonredundable credit for 2022 was larger than my tax on Form 1040 line 16, so total tax (line 24) was zero for 2022. I had no refundable credits.
As I understand it, after reading instructions for Form 1040-ES, if my 2022 Form 1040 line 24 for 2022 (tax minus nonrefundable credits) was zero, then I do not need to pay estimated taxes for 2023 but can wait and pay a lump sum in April 2024. (I don't think any of the special instructions on page 6 apply to me. I'm not a farmer or fisherman, didn't have AGI above $150K, didn't file a joint return, and did file a 2022 return for a 12-month year.)
I want to make sure I'm not missing something, so I don't let myself in for a penalty. Am I reading the instructions correctly, and owing zero after nonrefundable credits in 2022 means I do not have to pay estimated taxes for 2023? Or have I misinterpreted somehow?
Thanks!