Question

For a calendar year cash basis taxpayer who made estimated tax payments of $800 each quarter, what is the total estimated tax payment made for the year?

a. $400
b. $1,200
c. $2,400
d. $3,200

Answer 1

The total estimated tax payment made for the year by a taxpayer who made quarterly payments of $800 is $3,200.

Step-by-step explanation:

The student asked about the total estimated tax payment made for the year by a calendar year cash basis taxpayer who made quarterly payments of $800. To calculate the total estimated tax payments made per year, you multiply the quarterly payment by the number of quarters in a year. There are 4 quarters in a year, so the calculation would be:

1. $800 (payment per quarter) × 4 (quarters per year) = $3,200.

Therefore, letter d. $3,200 is the correct answer.