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Estimated Tax Computation

With the market in the toilet, and much of my income from dividends and capital gains distributions, how are members computing their quarterly estimated tax for 2020? No one has mentioned extending the 4/15 deadline yet.

Comments

  • In another thread, I wrote that according to IRS guidelines, taxpayers are allowed to defer their first quarter estimates until July 15th, though their second quarter estimates are still due a month earlier, on June 15th.

    As to what I will be doing - likely paying the same estimates as always, since I periodically do Roth conversions. Each year I select the amount to convert such that my total taxes remain fairly constant. Generally that means doing some conversions early in the year and leaving some until the end of the year when I have a good sense of expected dividends.
  • Thanks for your reply, but what is your "sense" of what to expect in the way of dividends and capital gains distributions for 2020?
  • OXY has already cut their dividend; BA is expected to cut their dividend. I suspect APA will also cut their dividend. Depends on what segment you are looking. The oil sector and air lines will probably see cuts.
  • edited March 19
    TheShadow said "The oil sector and air lines will probably see cuts." Bankruptcies here are also a strong possibility.
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