Get your taxes done using TurboTax

Yes, let's address these questions. 

1. If you wish to make estimated tax payments in 2024 and use Turbo Tax and haven't set up an account, log into Turbo Tax.  Once the account is set up, then go to federal>other tax situations>other tax forms>Form W-4 and Estimated Taxes. 
2. As you go through this section, on the screen that says Review your Estimates, select Review Now.
3. Then it will ask you a series of questions regarding age, filing status, and projected income. There will be a section where you will record the capital gains from the sale of the house. There will be other questions that follow that are designed to determine how much estimated taxes you should pay.
4. The quarterly tax payments should be equal in all four quarters to avoid a possible estimated tax penalty.
5.  Continue through the interview until you reach a screen summarizing what your estimated tax payments should be for all four quarters. In this screen, there will be a payment option to either pay through a government website or to print out vouchers, which gives you an option to pay as you go.
6. As far as forms, Turbo Tax will generate all the forms you need in the return.
7. There is no tax implication in your NYS or NYC income. As you complete the NYS interview, there will be an allocation screen where you would actually indicate that this is not New-York sourced income.  That is where you will report the adjustment.
8. Turbo Tax Premier is the product to use to report the sale of the house in 2024.
9. Once complete your tax return should have 4 forms 1040 ES, which are vouchers to make your estimated tax payments, if you chose not to make those payments electronically. There will also be an estimated tax & W4 worksheet and estimated tax option that will generate in your return.