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Get your taxes done using TurboTax
The TurboTax software needs to make it much easier to find the option for estimating next year's quarterly taxes. I've never done quarterly before, but I just earned a large capital gain, so I have to start. Here was how I wasted this evening trying to figure it out:
- Open TurboTax desktop 2020
- Click "Start New Return"
- TurboTax 2020 asks me to select a 2019 file for review. I want to start an estimated taxes file for 2021, not 2020.
- Click "cancel"
- Click "Continue 2020 Return"
- I don't see any option for continuing into 2021
- Google for answers. The top result: https://turbotax.intuit.com/tax-tips/small-business-taxes/estim[product key removed]n-questions/L1lu...
- Says to fill out Form 1040-ES. I try to do this manually, can't figure it out.
- Next Google result: https://turbotax.intuit.com/tax-tips/small-business-taxes/estimated-taxes-how-to-determine-what-to-p...
- Doesn't say where to go in the TurboTax software to start estimating 2021 quarterly taxes
- Next Google result: https://ttlc.intuit.com/community/tax-payments/help/how-does-turbotax-calculate-my-estimated-tax-pay...
- It says to click on the "Review Your Estimates for 2021 screen". Where is this screen?
- Finally find this thread. https://ttlc.intuit.com/community/taxes/discussion/re-can-i-change-the-2021-estimated-tax-payment-th...
- Says to go through the section "W-4 and Estimated Taxes". I don't see this section in my 2020 TurboTax desktop file. Probably because I didn't file estimated taxes last year.
- I see later it says to choose tab "Other Tax Situations", then "uncommon Tax Situations". FINALLY, this is the solution. Why is this not easy to find within the TurboTax software or within the TurboTax blog articles?
‎June 12, 2021
7:07 PM