If you owed taxes on your 2019 return, TurboTax will automatically calculate estimated tax payments for the next year.
If you anticipate that you will have a similar tax situation in 2020 as you did in 2019 (i.e. anticipate that you will owe taxes), you should pay estimated tax payments to avoid a penalty.
You don't have to make any payment until you have income on which estimated taxes are due. However, if at filing time, you have not paid enough income taxes through withholding or quarterly estimated payments, you may have to pay a penalty for underpayment.
Please see this TurboTax Article for more information.
@mlagoudes
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
