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Get your taxes done using TurboTax
Estimated tax calculations for 2021 are incorrect. My 2020 taxes were low because I did not have to take a required minimum deduction from my SEP-IRA, but I will have to make a larger one in 2021 and wanted to make a 2021 estimate higher than what I have to pay in 2020. When I tried to include that extra money as "extra income" for 2021, the estimated tax routine gave me an estimate that was even lower than in 2020. When I went into the Forms version, I discovered that Turbotax had not entered data correctly on the interview format. The screen displayed my business income and expense from 2020 correctly, but displayed only one box for my 2021 business estimate, and when I entered my 2021 business estimate as a Net income, Turbotax treated it as an expense rather than income. This needs to be fixed. I am trying to enter the correct data on the Forms version, but it's hard to get this right. The incorrect box in the forms version make it hard to enter the proper information in the forms version.