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Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

Question

Has there been a change in the law for Safe Harbor rules affecting estimated tax payments for high income taxpayers?

Answer

No. The estimated tax Safe Harbor rule is based on 110 percent of the tax shown on the client's tax return. This applies to taxpayers with adjusted gross income greater than $150,000 or $75,000 if married filing separately. The tax application calculates this amount automatically when you are using estimate option 1, 3, or 7 in the Estimates - Calculated section in Screen Est. The Safe Harbor rule does not apply to 1040-SS or 1040-PR filers.

Related topic: Estimated taxes FAQs (1040)

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