topic Quarterly payments in Get your taxes done using TurboTax

Quarterly payments

motoboy5207 — Wed, 05 Jun 2019 06:14:52 GMT

I am self employed and my wife works full time. I always use turbo tax home and business. I am getting to the point where I may need to do estimated quarterly tax payments. My question is that once I start making them and then find out it wasn't really needed can I stop doing them in the next year or am I stuck making them once I start?

You can stop estimated tax payments anytime. If your sit...

bluedeb — Wed, 05 Jun 2019 06:14:54 GMT

You can stop estimated tax payments anytime. If your situation changes you do not have to make the estimated quarterly payments.

Re: You can stop estimated tax payments anytime. If your sit...

pjglace — Sun, 01 Mar 2020 23:14:06 GMT

Thank you.

Re: Quarterly payments

Carroll Price — Fri, 03 Apr 2020 18:57:19 GMT

I can't find the space for recording quarterly tax that i paid.

Re: Quarterly payments

DoninGA — Fri, 03 Apr 2020 18:58:48 GMT

@Carroll Price wrote:

I can't find the space for recording quarterly tax that i paid.

To enter, edit or delete estimated taxes paid (Federal, State, Local) -

Click on Federal Taxes (Personal using Home and Business)
Click on Deductions and Credits
Click on I'll choose what I work on (if shown)
Scroll down to Estimates and Other Taxes Paid
On Estimates, click on the start or update button

Or enter estimates paid in the Search box located in the upper right of the online program screen. Click on Jump to estimates paid

Or click on Tax Tools on the left side of the screen.
Click on Tools
Click on Topic Search
Type in estimated tax payments, click on GO

Federal estimated taxes paid are entered on Form 1040 Schedule 3 Line 8. The totals for Schedule 3 flow to Form 1040 Line 18d

Re: Quarterly payments

BillM223 — Fri, 03 Apr 2020 19:03:05 GMT

@Carroll Price

Do a Search for estimated taxes paid, and click on the jump-to link.

Note that you will be able to enter both federal and state estimated taxes here