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Solved

Why are my estimated taxes for 2019 so low? I think they should be twice as high.

Forum|Forum|7 years ago
June 7, 2019
1 reply
23 views

my 2018 fed taxes were $21000, but the estimated taxes are only $2952 per quarter for 2019. Why the difference?

TurboTax Deluxe Windows

Best answer by TomYoung

Nobody here can really answer that question, but you can since you're using a desktop version of TurboTax.

Go into Forms mode, (icon in upper right hand corner), open one of your Forms 1040ES, put your cursor on the dollar amount in that form, right click and select QuickZoom. The "Estimated Tax Payment Options" worksheet will show up and you can see how that figure was determined. I'd guess that the difference between last year's tax liability and the estimated quarterly payments might come down to the expected 2019 withholding, but of course I can't be sure.

Tom Young

Answer

Alumni - Champ

Nobody here can really answer that question, but you can since you're using a desktop version of TurboTax.

Go into Forms mode, (icon in upper right hand corner), open one of your Forms 1040ES, put your cursor on the dollar amount in that form, right click and select QuickZoom. The "Estimated Tax Payment Options" worksheet will show up and you can see how that figure was determined. I'd guess that the difference between last year's tax liability and the estimated quarterly payments might come down to the expected 2019 withholding, but of course I can't be sure.

Tom Young