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Returning Member
posted Dec 15, 2024 12:03:16 PM

Where on TurboTax online can I do a 2024 q4 federal estimated tax calculation (due Jan 15, 2025) based on my year-to-date 2024 income and expected rest-of-2024 income?

0 5 10656
5 Replies
Level 15
Dec 15, 2024 12:15:51 PM

The TurboTax online editions for tax year 2024 will only calculate 2025 estimated taxes.

 

You can use the TurboTax calculator, TaxCaster, to get an estimate of taxes owed or a tax refund for 2024 - https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

Returning Member
Dec 15, 2024 12:47:06 PM

Thanks much DoninGA.

 

The link looks to be outside of my need to sign into my Turbo account.

 

I went through the questions but had an issue with the Gains/Losses (long-term). 

I have a large long-term capital gain that is larger than the maximum allowed amount for this field of  $1,000,000. 

Is there a work around for this or am I out of luck?

 

Thanks again.

Level 15
Dec 15, 2024 1:32:25 PM

@tmjmzz You can try this calculator which allows LTCG of greater than $1M - https://www.taxact.com/tools/tax-calculator

Returning Member
Dec 15, 2024 2:03:45 PM

Thanks much for the alternative site.

 

I wonder why TurboTax puts a cap on the maximum LTCG for their estimated tax calc.

I have a call with a TurboTax Expert on Monday afternoon. I'll ask then why?

 

Returning Member
Dec 18, 2024 4:53:29 AM

I had a call with a TurboTax tax expert yesterday and the TaxCaster only allows for LT capital gains of up to $1,000,000. There is no workaround.

 

So will use the TaxAct.com online calculator that you mentioned.

Thanks for that suggestion.