The annualized income method applies when you are calculating an underpayment penalty for the previous year.
TurboTax will calculate estimate payments for you based on your entries in your return for 2018 and you can adjust the estimates.
To calculate your
estimated taxes for 2019, please follow these steps:
- Click Federal > Other
Tax Situations
- In the Other Tax Forms
section, click on Start/Revisit next to Form W-4 and Estimated
Taxes.
- On the Adjust How Much Tax You
Pay screen, click the No box. [This applies to
withholding from your paycheck.]
- On the screen, Estimated Taxes
for 2019, click the Prepare Now box.
- On the Review Your Estimates
for 2019 screen, TurboTax will display estimates it calculated based
on your 2018 information and ask Do you want to adjust your income or
deductions? Click the Yes box.
- Continue through the interview, entering
information for 2019.
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