2018 Form 1040 ES

Forum|Forum|6 years ago
February 28, 2020
1 reply
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I notice a 1040 ES form with a payment amount in my 2018 tax returns. I made an online payment when filing the taxes last year. Did I have to submit the amount shown on the 1040ES as well.

I didn't fill anything related to paying estimated taxes for 2019 (in advance) while filing my 2018 tax return, so not sure how the 1040ES got generated. Can I ignore the 1040ES and do my taxes as normal for 2019?

Not A Product Question

Best answer by bluedeb

You're not required to make estimated tax payments; TurboTax just suggesting it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

Why did 1040-ES estimated tax vouchers print out? Do I need them?

TurboTax automatically includes four quarterly 1040-ES vouchers with your printout if you didn't withhold or pay enough tax this year. We do this to head off a possible underpayment penalty on next year's taxes.

You may get these vouchers if you're self-employed or had an uncharacteristic spike in your income this year. For example, you sold stock or took a large distribution from your retirement plan.

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Do I need to make estimated tax payments to the IRS?

https://ttlc.intuit.com/community/tax-payments/help/do-i-need-to-make-estimated-tax-payments-to-the-...

bluedeb

Answer

Alumni - Champ

You're not required to make estimated tax payments; TurboTax just suggesting it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

Why did 1040-ES estimated tax vouchers print out? Do I need them?

You may get these vouchers if you're self-employed or had an uncharacteristic spike in your income this year. For example, you sold stock or took a large distribution from your retirement plan.

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