topic Re: 1040-ES in Get your taxes done using TurboTax

1040-ES

cooker007 — Tue, 11 Feb 2020 19:52:29 GMT

What version of Turbo Tax do need to enter a 1040-ES amount paid?

Re: 1040-ES

JulieS — Tue, 11 Feb 2020 20:11:23 GMT

You can enter estimated payments made in the Deluxe, Premier and Self-Employed versions of Turbotax.

Estimated payments made are reported on Schedule 3 this year.

Re: 1040-ES

cdwayne123 — Fri, 13 Mar 2020 00:33:49 GMT

I made four payments of $500.00 each to in response to the 1040=ES info the IRS sent me.

Where do I enter this for credit in turbo Tax?

Re: 1040-ES

cdwayne123 — Fri, 13 Mar 2020 00:35:17 GMT

How do i access Schedule Three?

Re: 1040-ES

VolvoGirl — Fri, 13 Mar 2020 00:35:35 GMT

You can type estimates paid in the search box at the top of your return and click Find and it will give you a link to Jump To it.

To enter Federal or State Estimated Taxes Paid, including a state estimated payment made in January for the prior year, go to

Federal on left or at top. Personal (Home & Business)

Deductions and Credits at top

Then scroll way down to Estimates and Other Taxes Paid

Estimated Taxes - click the start button

Re: 1040-ES

kelimmarkey — Thu, 19 Mar 2020 22:54:46 GMT

I have a question,

I have filed myu taxes with Intuit Turbo Tax today, I dont know why the system has generated $ vouchers for estimate payment for 2020, I dont remember the turbo tax asked for that.

my question !!!!

I have a refund !!! is nothint to pay but the system has generated these 4 payments - estimated payments to make for next year's return?

I have to pay these voucher !!!!

Thank you !!!

Re: 1040-ES

VolvoGirl — Thu, 19 Mar 2020 22:58:03 GMT

No. You can ignore the 1040ES. The estimated payments are optional to pay. They are estimates for next year. Turbo Tax doesn't want you to owe next year. They might have printed out if you got a one time large income this year. Like if you took a IRA or 401K distribution or a large capital gain. They DO NOT get sent to the IRS or state with your return.

If you are receiving a refund or low tax due and TurboTax prepared the vouchers then your tax liability was probably reduced by credits. Your Tax Liability is the amount on 1040 line 12b. It is the tax you owe on your income. But you might qualify for credits that can reduce your tax due or even give you a refund.

Re: 2020 1040-ES Payments COVID revised due dates and forms

taxrookie49 — Tue, 23 Jun 2020 19:28:02 GMT

I believe I read where qrtly estimated pymts for Apr 21 and Jun 15 were pushed back to July 15. Is that correct? If so, which of the Form 1040-ES vouchers should I use? Or, is there another revised 1040-ES form I should be using? Thanks for your help.

Re: 1040-ES

MinhT1 — Tue, 23 Jun 2020 19:34:08 GMT

@taxrookie49

The first installment of estimated taxes normally due on April 15, 2020 has been been extended to July 15, 2020. You'll use the first voucher.

The second installment due on June 15, 2020 has not been extended and is still due on June 15, 2020. If you have not yet paid the second installment, you should pay it now. You use the second voucher.

Re: 1040-ES

davidgeorgefisher — Thu, 04 Feb 2021 23:14:41 GMT

I don't see anywhere to enter my 1040ES payments

Re: 1040-ES

VolvoGirl — Thu, 04 Feb 2021 23:16:38 GMT

For 2020 Estimates Paid go directly to 1040 line 26 with refund applied from 2019.

You enter state estimated payments under the federal side (because they can be a federal itemized deduction)

Be careful not to enter estimates under Income Taxes Paid Paid

You can type estimates paid in the search box at the top of your return and click Find and it will give you a link to Jump To it.

OR
To enter Federal or State Estimated Taxes Paid, including a state estimated payment made in Jan 2020 for 2019 (or Jan 2021 for 2020), go to
Federal or Personal (for Home & Business version)
Deductions and Credits
Then scroll way down to Estimates and Other Taxes Paid
Estimated Taxes - click the Start or Update button

Re: 1040-ES

PattiF — Thu, 04 Feb 2021 23:40:44 GMT

VolvoGirl is absolutely correct about how to enter the estimated payments. The Jump To link is for TurboTax Desktop and the second instructions are for TurboTax Online.

Re: 1040-ES

casoo-hasuconcep — Fri, 05 Feb 2021 07:29:34 GMT

Where can I get 2021 Form 1040-ES? I'm using the 2020 Premier version of Turbo Tax.

Re: 1040-ES

VolvoGirl — Fri, 05 Feb 2021 15:44:02 GMT

Yes the 2020 versions have the 2021 estimates. Don't know if they are ready yet. But

You can figure the estimates by going to
Federal Taxes or Personal (Home & Business program)
Other Tax Situations
Other Tax Forms
Form W-4 and Estimated Taxes - Click the Start or Update button

Here are the 1040ES instructions and blank forms (where to mail is on page 4)
http://www.irs.gov/pub/irs-pdf/f1040es.pdf

Or pay directly on the IRS website. Payment options for paying your Federal income tax…..
https://www.irs.gov/Payments

Re: 1040-ES

VolvoGirl — Sun, 07 Feb 2021 19:25:58 GMT

2021 1040ES won't be available until Feb 18. See

https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

Hmmm, wonder how I copied that link? Let's try this one

https://ttlc.intuit.com/community/forms/help/irs-forms-availability-table-for-turbotax-individual-personal-tax-products/00/26224

Re: 1040-ES

sandmanmax — Sun, 07 Feb 2021 19:03:57 GMT

Do I just update TurboTax Deluxe 2020 at the end of Feb to run the vouchers? I didn't owe any tax for 2020, so it didn't generate them automatically. 2021 will be totally different tax situation and I want to get a head-start. (By the way, the link is broken)

Re: 1040-ES

JotikaT2 — Sun, 07 Feb 2021 19:20:36 GMT

Yes, I would wait for the updates to get the vouchers.

Attached is a link to help you see the release dates on the forms.

Forms release dates

See the attached link for more information to assist you when preparing your estimated tax vouchers for 2021. You will be able to make adjustments for any changes to your income to ensure your payment vouchers are calculated correctly.

Calculating estimated tax payments with TurboTax

Re: 1040-ES

bobann27 — Tue, 16 Feb 2021 23:23:01 GMT

when viewing my 1040-ES vouches for 2021 there is a "DO NOT FILE" in bold red letters at the top right. This does not appear on the state vouchers

Re: 1040-ES

VolvoGirl — Tue, 16 Feb 2021 23:26:30 GMT

As I said above the 1040ES won't be ready until Feb 18. You have to wait. The first one isn't due until April 15. Or you can pay the IRS directly online and not use the voucher.

Re: 1040-ES

DawnC — Tue, 16 Feb 2021 23:30:49 GMT

The federal form 1040-ES has not been finalized. They will be finalized by this weekend. So, if you want clean copies, reprint them over the weekend and the ''do not file'' will be gone. Your state forms have already been finalized. None of those get filed with your tax return, so it will cause no issues with e-filing your returns. @bobann27