When you prepare your 2021 return, TurboTax automatically calculates your 2022 estimated tax payments and prepares 1040-ES vouchers if the program thinks you may be at risk for an underpayment penalty next year.
For 2022, you would have to pay an underpayment penalty if you owe more than $1,000 in taxes (after taking withholding into account) and:
* Your taxes withheld don't cover at least 90% of your 2022 tax liability, or
* Your taxes withheld aren't at least 100% of the tax shown on your 2021 tax return. Your 2021 tax return must cover all 12 months.
The estimate forms (1040-ES) do not get e-filed with your return. If you do not want to pay the estimates, you are under no obligation to. It is just a suggestion based on an estimate for the 2022 tax year.
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