DH no longer has an LLC for his consulting business. He's fully retired. We used to pay quarterly earnings. Already paid for 2023 in 2022. We have not WD from our VG portfolio but will start in 2024.
What income do we have to prepay in quarterly installments for 2024? If we have no WD from tIRA and only sell some taxable stock and Ibonds, do we have to pay quarterly for this income? We plan to cash the Ibonds in Jan. 2024. The interest on those will be approx. $30K. Do I pay tax on that interest in the first quarter of 2024?
We're attempting to do our taxes in the future. We've always had an accountant. But everything will be simplified as we fully retire.
What income do we have to prepay in quarterly installments for 2024? If we have no WD from tIRA and only sell some taxable stock and Ibonds, do we have to pay quarterly for this income? We plan to cash the Ibonds in Jan. 2024. The interest on those will be approx. $30K. Do I pay tax on that interest in the first quarter of 2024?
We're attempting to do our taxes in the future. We've always had an accountant. But everything will be simplified as we fully retire.