Estimated taxes

[LenaH · Accepted solution]

TurboTax uses the most recent information when calculating your 2021 estimated taxes. If you want to adjust for different income or deductions for 2021, then you are able to do so in TurboTax. 

Please follow these steps to calculate and generate new 1040-ES vouchers: 

1. With your tax return open, search for 1040-es (be sure to include the dash) and select the Jump to link.
2. Answer No to the question Do you want to change your W-4 withholdings for 2021?
3. Answer the questions about things like your 2021 filing status, income, and deductions.
4. Eventually, you'll come to the Print Vouchers? screen. Answer Yes and we'll include your 2021 1040-ES payment vouchers when you print a copy of your return later.

[Dac53]

Thanks Lena for thoughtful reply but it didn't resolve my issue. I'll try to explain it better. I am retired and have no withholding. In 2020, I sold some stock at a capital gain and made an estimated tax payment using the IRS website. When I prepared my taxes using Turbotax I searched but could never find how to enter an estimated tax payment made in 4Q 2020 so the turbotax return, as filed, doesn't show this payment. My question was: do I now need file an amended return to get back the portion of the estimated tax not required. Secondly, unless I can figure out how to do this on Turbotax, I suppose my best bet is to do so by printing the form from the IRS website and filling it out manually. 

[gloriah5200 · Accepted solution]

You should wait to do anything until IRS has fully processed your return.  IRS may adjust your refund by the estimated payment you made but did not report on your return.  If they do increase your refund by the amount of estimated tax payment not included, then you should also wait for a letter of adjustment from them to be sure what changes were made.

If they just send you the refund you requested without including the omitted estimated tax payment, then you can amend your return at that point for the additional refund.

[Dac53]

Thank you for giving me a practical and thorough roadmap.