DianeC958
Expert Alumni

Deductions & credits

The estimated tax payments that TurboTax gives you are based on your income from the previous year.  If during the year your income increases the amount of your estimated payments also need to increase.  TurboTax does not have this information.  

 

By the same token if you income decreases you can decrease the amount you are paying in estimated tax.

 

It is important to keep track of changes in your income and adjust your payments accordingly.

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