Arizona $75,000 quarterly estimated tax payments

Forum|Forum|2 years ago
April 9, 2024
2 replies
8 views

I am employed through a company in AZ, and taxes are taken out of my paycheck each week. Turbotax is asking me to put in my estimated quarterly taxes even though I will not be making any quarterly tax payments since it is all done automatically by my employer. What do I do to move forward in filing for my refund?

TurboTax Deluxe Online

Best answer by MarilynG

If you're at risk for an underpayment penalty next year, we'll automatically calculate quarterly estimated tax payments and prepare vouchers (Form 1040-ES) for you to print.

You're not required to make estimated tax payments; we're just suggesting it based on the info in your return.

If you had significant income from other sources besides your wages (capital gains, for example), this may prompt the estimated payments formula.

Here's more info on Estimated Taxes.

MarilynGAnswer

Level 15

If you're at risk for an underpayment penalty next year, we'll automatically calculate quarterly estimated tax payments and prepare vouchers (Form 1040-ES) for you to print.

You're not required to make estimated tax payments; we're just suggesting it based on the info in your return.

If you had significant income from other sources besides your wages (capital gains, for example), this may prompt the estimated payments formula.

Here's more info on Estimated Taxes.

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