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:

Standard Deviation

A statistical measure that quantifies the dispersion or variation of a set of numerical data from its average.

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A collection of investments held by an individual or institution.

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Financial assets or resources that are available for a specific purpose or investment.