TurboTax uses the most recent information when calculating your 2021 estimated taxes. Generally, your estimates must cover the smaller of: 90% of the tax to be shown on your 2021 tax return, or 100% of the tax shown on your 2020 tax return. With that being said, you can always increase your estimated if you think you may have increased self-employment income for 2021.
Please follow these steps to calculate and generate new 1040-ES vouchers:
- With your tax return open, search for 1040-es (be sure to include the dash) and select the Jump to link.
- Answer No to the question Do you want to change your W-4 withholdings for 2021?
- Answer the questions about things like your 2021 filing status, income, and deductions.
- Eventually, you'll come to the Print Vouchers? screen. Answer Yes and we'll include your 2021 1040-ES payment vouchers when you print a copy of your return later.
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