Quarterly Tax Questions - Standard Deduction, Filing and State Taxes

Forum|Forum|4 years ago
May 2, 2022
1 reply
0 views

Okay, this forum has been so helpful! I have some more questions about quarterly taxes:

1. If I pay via credit card on the IRS website, do I need to 'file' anything? Do I need to mail vouchers in still?

2. When do I apply my standard deduction to these taxes, will I do it at the end of the year with my annual tax return?

3. Is there a way to figure out my state estimated taxes with Turbo?

Thank you!

Tax Advice

VolvoGirl

Level 15

No, if you pay the IRS online you do not need to send in the 1040ES estimated slip. Be sure to pick the right kind of payment and year.....2022 Estimate

The Standard Deduction is applied to you annual 1040 tax return. Nothing to do with estimates.

For state estimates go through the state return again. It should be at the end of state like under Other Situations.

Quarterly Estimates are just to cover the tax due on your April tax return . In case your withholding isn't enough or you have income that doesn't have withholding taken out.