2023 Estimated Taxes Paid in 2024

Forum|Forum|1 year ago
February 4, 2025
2 replies
25 views

Why is TurboTax asking me "How much of your 2023 estimated state taxes did you pay in 2024?" Is it asking about the fourth quarter (2023) payment that was paid before Jan. 9th 2024 deadline or payments that possibly were made after the deadline?

KrisD15

Level 15

The fourth installment paid and due in January 2024

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AHHHH-taxes

Level 2

Hello. Why would there be such a specific question though? If we input our estimated taxes for each quarter, wouldnt it be redundant to have to list out how much we paid in the last quarter? I dont understand the purpose of this. Thank you.

KeshaH

Level 11

When you enter your state estimated taxes paid, there are two places those payments can go on your tax return.

1. On your state tax return as a credit against your tax liability. 2023 estimated tax & extension payments made in 2024 would be included on your 2023 tax return because that is the year the payments are applied to.

2. On your federal tax return as an itemized deduction. These tax payments are deducted when paid, so 2023 estimated tax & extension payments would be included on your 2024 federal tax return because that is the year the payments were made.

TurboTax asks the question about 2023 payments made in 2024 so that these payments can be included in your 2024 itemized deduction, if applicable.