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Subject:  Which Estimate tax payments to report Date:  2/25/2003  12:37 PM
Author:  AEP Number:  64057 of 121100

To all,

I have made quarterly estimated tax payments for the last few years and have not felt that I understood which payments should be added up to report (Est. taxes paid) for a given tax year's filing? Should only the quarterly payments made for a given tax year be included (regardless of when these payments were made), or should only the payments actually made during the tax year in question be used?

Typically, I make (4)payments - the last of which (4Q payment) is technically sent to the IRS and State in January of the next year. For example, for the 2002 tax year, I developed and made four payments, the first was done in 4/2002, and the last payment was done in 1/2003.

It's this straddling of the 4Q payment into the next year that's driving my problem.

For 2002, should I use the collection of 4Q2001, 1Q02, 2Q02 and 3Q02 payments - or 1Q02, 2Q02, 3Q02 and 4Q02 (4Q02 was actually made in 1/2003)?

Thanks in advance,
Al

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