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Get your taxes done using TurboTax
@Critter-3 I see nothing here that answers my question of how did ttax calculate 2021 estimated tax.
Yes I have turbotax premier download version and from the forms mode:
At the 2nd line from the bottom of the Estimated Taxes and Form W-4 Worksheet it states "110% of your 2020 actual tax." The estimate of total payments you will need to make for 2021 at the bottom of Estimated Taxes and Form W-4 Worksheet, the figure is slightly higher than 110% of Form 1040 line 16 by $37, but at 110% of Form 1040 line 24, it’s low by $185, (also from forms mode).
What am I missing in understanding how turbotax calculated the figure at the bottom and should I add $185 to the turbotax calculated amount for the fourth 1040-ES payment in January?
December 15, 2021
11:13 PM