Deductions & credits

You have two options -

1.  You can simply ignore the 2017 ES payments if you don't believe you will owe tax next year.  The program produces these forms as a convenience for you to make the payments.  You are not locked into those payments.  The program will produce them automatically if you owed tax as the government requires you to withhold enough tax to cover your tax liability or make estimated tax payments.  If you don't have enough withholding and you don't make estimated tax payments, then the IRS or your state can charge you with an underpayment penalty.  If you owed tax this year because of a one-time event and you won't owe next year, then you can decline to send any payments.  

2.  You can revisit the estimated tax section of the program and account for the fact that you won't have a sale again in 2017.

  • Log into your account and hit Take Me to My Return
  • Click Federal taxes > Other Tax Situations > Other Tax Forms > Form W4 and Estimated Taxes
  • Follow the prompts and you will be asked a series of questions.  The program will base the estimated payments off this years return, but if you anticipate having less income next year or if there will be other life changes (i.e you won't be able to claim a dependent anymore), then you can make those adjustments.
  • After you have made the adjustments, if you are not prompted to print out fresh ES forms, then go to My Account > Print Center.  Follow the prompts to download a new pdf and you can select the 1040 ES forms for printing.

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