Tax Year Prior to 2020: Quarterly payments

Forum|Forum|6 years ago
February 26, 2020
2 replies
0 views

Why does my return form show that I have to pay quarterly payments? I just received my return deposit and what I owe seems to already have been taken out. I just want to make sure I’m not expected to pay anything more than the $1448 already take man out of my check.

Kat11_2

Alumni - Champ

Are you referring to the 1040-ES vouchers that are included in the PDF of your return? If so, those are included as a "suggestion" from TurboTax that you may want to make estimated tax payments. If you're certain that you don't need to make estimated tax payments, just disregard those vouchers. See the info linked below for more explanation.

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

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*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***

WillK

Level 14

It sounds like you owed taxes when you prepared your return which means you did not have enough taxes withheld out of your paycheck during the year. TurboTax will automatically calculate your quarterly estimated taxes to be paid in so you will pay enough taxes during the year.

To read more about quarterly estimated taxes click here: https://ttlc.intuit.com/community/tax-payments/help/what-are-estimated-taxes/00/25941

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