topic Can I save my return, clear some of the information and reload it with 2020's estimated wages to estimate my taxes, and then exit without saving? in Get your taxes done using TurboTax

Can I save my return, clear some of the information and reload it with 2020's estimated wages to estimate my taxes, and then exit without saving?

PJHaigh13 — Mon, 03 Feb 2020 20:25:35 GMT

Re: Can I save my return, clear some of the information and reload it with 2020's estimated wages...

KathrynG3 — Mon, 03 Feb 2020 20:46:58 GMT

It is a best practice to keep your return as filed for 2019.

To project what your taxes will be for 2020, I recommend instead using this IRS Tax Withholding Estimator so you can get a very clear idea of what you will owe federally.

You can contact your State Department of Revenue, for their estimated tax withholding recommendations.

By submitting updated W-4 forms for the Federal and State Taxes, you can set it up as you wish--either fairly close to $0 or an estimated amount for a refund.

These are the tax brackets for 2019 and for 2020

Re: Can I save my return, clear some of the information and reload it with 2020's estimated wages...

PJHaigh13 — Mon, 03 Feb 2020 21:44:57 GMT

The IRS Tax Withholding Estimator looks really good. Thanks. It should really help.

Re: Can I save my return, clear some of the information and reload it with 2020's estimated wages...

lmatako20 — Tue, 04 Feb 2020 22:45:13 GMT

Thank you for your answer @KathrynG3 . That was exactly what I needed too @PJHaigh13 .

Re: Can I save my return, clear some of the information and reload it with 2020's estimated wages...

KathrynG3 — Tue, 04 Feb 2020 23:37:33 GMT

You're welcome! I am happy to help!

@PJHaigh13

@lmatako20