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Can Turbo Tax Figure Estimated Payments with Kiddie Tax?
College student child has submitted 2021 filing that was a "normal" tax year. However, 2022 changes things and they will need to pay estimated taxes due to a stipend. It is my understanding that the stipend will also count as unearned income and therefore be subject to the Kiddie tax. I am using the TT "Other Tax Situations" section titled "Form W-4 and other estimated taxes" to generate the estimated tax payment vouchers. However, the only way I see to account for Kiddie tax is by calculating it myself and entering an amount under "other taxes." Is there a better way? Can TT make that calculation?
‎April 17, 2022
7:08 AM