MarilynG1
Expert Alumni

Get your taxes done using TurboTax

Your Estimated Tax may be calculated from Form 1040, Line 16 minus Line 17.

 

The amounts that TurboTax prints on the four 1040-ES forms are just estimates - you can change the dollar amounts on any or all of them when you pay,

 

If you look at the  instructions for the 1040-ES, you will see all sorts of calculations for determining your annual estimated tax and your quarterly estimated tax.

 

If you had extra income in 2020 (or have irregular amounts of self-employment income) you can Annualize Your Income in the Underpayment Penalty section. 

 

Click this link for more info on Calculating Estimated Taxes.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"