calculate 2022 estimated tax

[mryolanusa]

how to start preparing calculating 2022 Estimated Taxes using turbotax online? where to click so TurboTax can start automatically calculate my estimated tax payments? (my 2021 federal return was accepted)

or do I better buy desktop version for that?  

[mesquitebean · Accepted solution]

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@ mryolanusa wrote:

how to start preparing calculating 2022 Estimated Taxes using turbotax online? where to click so TurboTax can start automatically calculate my estimated tax payments? (my 2021 federal return was accepted)

or do I better buy desktop version for that?  

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You should be able to go through the 2022 estimated taxes interview in Online TurboTax.  Here's how:

You said you have already filed your 2021 return.  Here's how to open your already-filed return back up to go through the estimated taxes interview, calculate estimated tax payments, and print out 2022 Form 1040-ES vouchers, if desired.    If you don't want to pay the 2022 quarterly taxes by mailing vouchers and checks, we can tell you how to make quarterly payments electronically online at the IRS Direct Pay or Treasury EFTPS website..

NOTE:  When you open your return back up, do not make any changes in the return itself since it's already been filed.   It's OK to go through the estimated taxes interview that I describe below, but do not make changes in the original return--just in case you later have to amend it, which must start out exactly as originally filed.

You can go through the section "W-4 and Estimated Taxes" to figure your customized 1040-ES quarterly tax payments for 2022.    There is also a place in that interview to enter what you have already paid for 2022 (if applicable), and it will let you include any expected income changes or any other changes you have for 2022.

• Log in, and then here's how to open your return back up:
• At the Tax Home or in the section "Your Tax Returns & Documents" for tax year 2021, look for a link "Add a State."
• Click on "Add a State."  (you don't really add one; that's just to get the return to open back up.)
• Once the return is open, click in the left menu column on Federal.
• Then at the top choose tab "Other Tax Situations".
• It may ask you if have 3-4 uncommon situations.  If so, answer those.
• Once you get past those, you may then see a screen "Your uncommon Tax Situations"
• Scroll way down to the last category "Other Tax Forms" and click "Show More."
  
• Find topic "Form W-4 and Estimated Taxes" and click Start or Update.
• It will first ask you if you want to change your W-4 withholdings.  If you need to do that, click "Yes" to go through the W-4 interview.
• If you don't need the W-4 (withholding) interview, you can click "No" and go to the 2022 estimated taxes interview.
• You may get a screen that says "Review your Estimates for 2022?" and asks "Do you want to review your income or deductions".  Say YES (or Review Now), so you can get to the additional questions.
• You will go through a lot of screens asking about expected income and deductions.
• Finally, you will come to a screen that says "Enter Payments You Expect to Make."
• There are some boxes there that say "Enter estimated tax payments you've already made for 2022."
• Next screen will ask "which method" to use to calculate your 2022 estimated payments.
• Next screen will ask if you want to print vouchers.
• If you want to pay them electronically instead of mailing the vouchers and checks, we can tell you how to use IRS Direct Pay or the Treasury's EFTPS website.

[wilburlmoreland]

Where in turbotax do I calculate 2022 estimated tax.

[VolvoGirl]

Read the answer above.

[jdesaave]

No matter which way I approach it, I get the answer "No Estimated Payments Required"  I should see an approximate $320 quarterly estimate.

[jdesaave]

I was able to prod the federal into working by going through the W-4 interview, but the state will not work. I am finding this year's version to be exceptionally buggy. I have been using Turbo Tax far in excess of 20 years.

[CarissaM]

It would be best to follow the instructions here to contact us by phone so we can better assist you. @jdesaave

[Rs6er]

What if I didn't use Turbo Tax Online and the return is on my computer. I used the Home & Business CD.

[Rs6er]

What if I didn't't use Turbo Tax Online? I used the Home & Business CD, and my return and the software are on my computer.

[mesquitebean]

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@ Rs6er wrote:

What if I didn't't use Turbo Tax Online? I used the Home & Business CD, and my return and the software are on my computer.

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You didn't specifically say what you want to do, but based on the title of this thread and assuming your question is the same, here's how to navigate in the desktop version to figure 2022 estimated Federal taxes.

• In Home and Business, click the Personal tab (in other editions Federal Taxes tab.)
• Then subtab:  Other Tax Situations.
• Scroll way down to Other Tax Forms.
• Choose topic Form W-4 and Estimated Taxes.
• First screen asks if you want to figure a change in the withholding on your W-4.   Answer yes or no, depending on your needs.
• If you said no (or after the W-4 interview if you chose that), the next screen will likely ask:  Do you want to prepare estimated taxes for 2022?
• If so, choose "Prepare now" and keep following the prompts.
• It will show some figures under "Review Your Estimates" and ask if you want to adjust your income or deductions.   If you say "Yes", then it will take you through a detailed questionnaire to figure your 2022 estimated tax where you can customize it.   At the end of that questionnaire, it asks you which method you want to use to calculate the 2022 estimated tax.
• It will then ask if you want to print vouchers or not.   Yes or no.
• Continue until you completely finish that topic.

State and local estimated taxes for 2022 can be figured somewhere in your state/local interview--likely near the end of the state/local interviews as you finish up those returns.

If you wish, we can tell you how to pay each quarter's Federal estimated taxes electronically without the need for paper vouchers, payment mailings, etc. if you want to use IRS Direct Pay or the Treasury's EFTPS payment system.  Both are free payment systems that use ACH payments directly from your bank account. 

[mesquitebean]

@ Rs6er 

ADDENDUM:

If you have already filed your 2021 return, then when you go back into it to figure the 2022 estimated taxes, do not make changes in your actual already-filed return.  i.e., do not experiment using the actual return.  It's OK to use that W-4 and Estimated Tax section, since it does not affect the return itself. 

If you later have to amend the return, it must start off exactly as you originally filed it using the formal amending process.

If you do want to experiment any, some people make a second copy of their *.tax2021 data file, label it something distinctive like "TrialCopy2021return", and then use that copy to try things.    The 2021 desktop software also has a worksheet in Forms Mode called "What-If Worksheet", where some people try various scenarios.

[Rs6er]

The only place I can see to change withholding is under W4. I don't have W4 income. I need the withholding to come from "Other income" which considers only of RMD distributions. I still don't see how to show the withholding on that.

[Rs6er]

I did make a copy and locked the original.

[mesquitebean]

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@Rs6er wrote:

The only place I can see to change withholding is under W4. I don't have W4 income. I need the withholding to come from "Other income" which considers only of RMD distributions. I still don't see how to show the withholding on that.

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 I'm a fellow user, and I don't know how to specifically account for that situation in the estimated taxes tool interview to make the tool aware of your withholding from your retirement income.    I'm not a tax person, but I suppose one could do that math manually after using the tool to account for the withholding, but if your goal is to have the proper amount printed on the vouchers, then the vouchers wouldn't sync with your additional calculation.  Of course, after figuring your payments, you could use blank vouchers and enter your own custom amount.    To have it sync with the amount printed on the vouchers, maybe you could do it this way (I'm mainly thinking out loud).

You "might" be able to indicate your retirement withholding in Forms Mode by using one of these worksheets:

• Estimated Taxes and Form W-4 Worksheet (in the forms list it's called "ES & W4 Wks")
• Estimated Tax Payment Options (in the list it's called "Est Tax Options").  Some of the data on that worksheet may actually flow from the first one I mentioned above.  If so, you can only change it on the worksheet from which it came.  In Windows version, you can right-click a data field, and in a popup choose "data source" to see what form it comes from.)

Again, I'm not a tax person or TurboTax employee, but if you want to speak to someone at TurboTax Support, hours are 5AM-9PM Pacific (8AM-12 Midnight Eastern), 7 days/week

FAQ: What is the TurboTax phone number?
https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632

NOTE:  I don't know how you intend to pay your estimated taxes each quarter, but if you don't want to have mail a check and voucher, we can tell you how to pay them electronically by ACH out of your bank account at either the IRS Direct Pay website (no enrollment needed) or Treasury's EFTPS website (requires enrollment).

[Rs6er]

I contacted TT about this 3 times. One time they wanted to make me pay for a tax advisor to answer this question. I replied that it’s about the software, not tax advice. I got disconnected from 2 callbacks today (I’m convinced they just hung up because they had no concept of RMD withholding.) Every time they send me a link it’s the same situation. No place to add the withholding. I considered not including the RMD income for next year because I am already paying the state and fed taxes out of the gross amounts. That would get me to the right number, but I like to have it all looking correct. I don’t use the vouchers anyway. I just make the payments on state and federal websites. I just wish they could get their act together. Don’t even get me started on foreign tax payments from investments.