Yo didn't mention which state and local tax jurisdictions are involved, but in general, your estimated taxes are what you pay in during the tax year based on your prediction of your income and deductions for the year. Depending on what actually happened during the year, your estimated taxes may or may not have been enough to cover your tax liability.
You can deduct both city and state taxes on your federal return. Each local jurisdiction may have its own rules.
TurboTax calculations are guaranteed and are based on the actual federal and state tax rates and any special rates that apply, such as self-employment tax and capital gains tax.
To calculate estimated taxes and prepare Forms 1040-ES:
- With your tax return open, 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 2025?
- Answer the questions about things like your 2025 filing status, income, and deductions
- Eventually, you'll come to the Print Vouchers? screen. Answer Yes and we'll include your 2025 1040-ES payment vouchers when you print a copy of your return later
In addition, TurboTax's TaxCaster is available without opening your return and will estimate your total taxes for 2023.
You can also use the IRS Withholding Estimator to calculate amounts to be withheld from wages.
Please also see this TurboTax tips article for more information about estimated taxes.
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