Minnie, a Calendar Year Taxpayer, Filed a Return Correctly Showing

question 120

Multiple Choice

Minnie, a calendar year taxpayer, filed a return correctly showing a zero Federal income tax liability for 2011, because her Form 1040 showed various deductions and credits.During 2012, Minnie's AGI is $120,000 and her tax liability is $20,000.To avoid a penalty for 2012, Minnie must make aggregate estimated tax payments of at least:

• A)$20,000.
• B)$18,000.
• C)$1,000 (minimum amount).
• D)$0.

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Definitions:

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A concise summary of the main point or claim of an essay, research paper, etc., usually one sentence that appears in the introduction.

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