Less capital gains this year

[HankDfrmSD]

How do I change the Estimated tax vouchers if the short term capital gains I receive this year will be much less than what I received last year?

[Anonymous_]

You can change the estimate in the program itself.

You can also print the relevant vouchers and prepare them manually (either on your computer or with a pen).

https://www.irs.gov/pub/irs-prior/f1040es--2021.pdf

[HankDfrmSD]

You said that I can change the estimate values in the program, but I want the program to change the amounts on the Estimate forms when I put in the new values for this year's capital gains, but I can't find a place in the program (TT Deluxe) to do that. Is there one?

[Anonymous_]

The program defaults to the current year's tax liability when calculating estimated taxes for the following year.

[HankDfrmSD]

So, if I set up a separate file for this year's taxes and enter what I expect to be my capital gains next year, the program would compute my estimates correctly for that assumption?

[VolvoGirl]

You can use your current 2020 return.  Did you go through the estimate section?

To prepare estimates for next year you start with your current return, but be careful not to change anything.  If you can't get back into your return, Click on Add a State to let you back into your retun.

You can just type W4 in the search box at the top of your return , click on Find. Then Click on Jump To and it will take you to the estimated tax payments section. Say no to changing your W-4 and the next screen will start the estimated taxes section.

Or Go to….

Federal Taxes or Personal (Deskop H&B)

Other Tax Situations

Other Tax Forms

Form W-4 and Estimated Taxes - Click the Start or Update button

To just estimate the remaining quarters put in that you paid $1 for the missed quarters so it will only calculate the remaining quarters.