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How to Avoid Double Counting Estimated Income Tax?
When a user pays quarterly state and federal estimated income tax for the prior calendar year (current tax year), do they also include that income in the TurboTax section "Your income" > "Self-employment income and expenses" in addition to the "1040-es" form under section "Federal" > "Deductions & Credits" > "Estimates and Other Taxes Paid" > "Estimated Tax Payments"?
The concern is that the income will be double-counted if added in both sections described above.
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‎February 27, 2022
1:26 PM