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Hi ... I thought I knew what I was doing with our Estimated Tax situation this year, but now that I've read some of the posts on here, I'm very confused.

At this point, the only income my husband and I have this year is unemployment (not taxed yet), 1/4 of last year's ROTH IRA conversion, interest, dividends, short term capital gains and long term capital gains. Since we don't know if either of us will go out and get a job or if we'll continue to trade stocks this year, there's no way we can project what our income will be going forward.

I sat down and fed all of these taxable figures into the AOL Tax Estimator prior to April 15th and we still didn't have enough income to owe any taxes due to our married filing joint exemptions and our standard deductions.

Now, however, we're at the point where we owe the IRS and the state in which we live. I have the estimated worksheets and payment slips for both the IRS and our state and both worksheets say that unless we owe $1,000 or more, that at this time we don't have to make any estimated tax payments.

The AOL Tax Estimator calculates that as of now we only owe $350 to the IRS and we've figured out that we owe our state a little more than that. Both are less than $1,000 so we were not going to send either any tax payments by the June due date. We don't want to owe a penalty, so we want to make sure we're doing this right. Help, please!
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