Yes, TurboTax will help you figure out how much if any estimated payments you should make. As you prepare your 2023 return TurboTax automatically calculates if you need to make estimated payments for 2024. If your information from 2023 does not trigger the estimated payments, you should:
- Open your tax return
- Search for 1040-es (be sure to include the dash) and select the Jump to link.
- Answer No to the question Do you want to change your W-4 withholdings for 2024?
- Answer the questions about things like your 2024 filing status, income, and deductions.
- Eventually, you'll come to the Print Vouchers? screen. Answer Yes and we'll include your 2024 1040-ES payment vouchers when you print a copy of your return later.
If when you are done it shows No Payments, it means that based on the information that you entered, you do not need to make estimated payments for 2024 you don't need to make 2024 estimated payments based on what you entered.
If you do not know what your numbers will be you can use estimated amounts as you answer the questions. You can also go back to your return and figure this out when you know what your capital gains will be.
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