annualized method for estimated taxes

[bobert2]

confused if I am doing it right.  I have done the guided portion of the annualized method, but I look at the completed forms and worksheets .... and 2210 Part III, line 11 does not seem to populate my 4th qtr payment correctly.  Is that an error, or some formula that is discounting it??

[Mike9241]

we can't see the form or your entries so have no way of knowing what has taken place.  it may be you do not understand the rules or entered something incorrectly like a bad date or amount. 

for column d it should be automatic from the tax return. but if not, line 11 should be the total of all withholding for the year (same as line 25d on the 1040) and estimates paid on or before 1/15/2023

[Hal_Al]

The fourth quarter payment is entered in the same place as the other three payments.

In TurboTax (TT), enter at:

Federal Taxes Tab (Personal for H&B version)

Deductions & Credits

-Scroll down to:

--Estimates & other taxes paid

   -Estimates

[bobert2]

Finally got an answer from Turbotax support.  LINE 11 (FORM 2210) is populated by Turbotax, and uses your entries from your Estimated Taxes PAID worksheet.  EXCEPT Column "D" (4th QTR) was a lower number than what I paid and reported.

Turns out that apparently TURBOTAX feels the need to adjust the number down so all 4 qtrs match your current year TAX liability.  IRS instructions so not say to do this, and FORM itself does not call for this.  It works out just fine, but something of a surprise because this calculation is NOT reflected anywhere so it is hard to follow.  BUT once you understand what is going on, then it works out just fine.

[Mike9241]

the 4th quarter should match your return except no payments after 1/15/2023 are included