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I retired and started to collect Social Security in July, 2002. My DW continued to work. When time came to prepare income taxes for 2002 I found that I had to pay a significant amount over what had been withheld from paychecks. Factors behind this were some capital gains and 85% of my SS being taxed.
So now we are half way through 2003 with DW still employed but I have no earned income. What is the best and easiest way to estimate what my tax liability will be for this year? I'm not particularly worried about having to pay additional but don't want to get into a penalty situation.
I considered using my 2002 TaxCut software using my estimated numbers for 2003 but with the tax changes, etc. I'm not sure that will get me to a reasonable liability.
Any one have any suggestions? And if it appears that I will owe significant tax in addition of DW's withholding is there a way I can make a payment now to avoid penalty?

Bob
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