Should I do something for my tax now for shares selled end of January? Thank you

Anonymous — Sun, 29 Mar 2020 20:52:23 GMT

Re: Should I do something for my tax now for shares selled end of January? Thank you

KrisD15 — Sun, 29 Mar 2020 21:06:46 GMT

No, that will be for tax year 2020.

If it was a large amount of income, you may want to pay estimated Federal and/or State income tax.

Federal estimated taxes

Re: Should I do something for my tax now for shares selled end of January? Thank you

Anonymous — Sun, 29 Mar 2020 21:08:24 GMT

Great! and can I do my estimated taxes with TurboTax? and how?

Thank you

Re: Should I do something for my tax now for shares selled end of January? Thank you

KarenM90 — Sun, 29 Mar 2020 21:21:47 GMT

Yes, You can use TurboTax to calculate the estimates and print out the vouchers, but you won't be able to make the payments through the program.

Please see the TurboTax Help article below for additional information on making the payments: How do I make estimated tax payments.

To calculate estimated payments, please follow these steps:

1. Click on Federal Taxes from the menu on the left and choose Other Tax Situations

2. On the screen, Add other tax situations in the Other Tax Forms section, click on the Start/Revisit box next to Form W-4 and Estimated Taxes.

3. On the screen Adjust How Much Tax You Pay click the No box. [This is for withholding from a paycheck.]

4. On the next screen, Estimated Taxes for 2020, click the Prepare Now box. [If you've already entered information in this section, you will see the Review Now box instead.

5. On the Review Your Estimates for 2020 screen TurboTax will display 2020 quarterly estimates based on your 2019 income. If you think your 2020 financial picture will differ, click on the Yes box to adjust your income or deductions.

6. Continue through the screens, entering the requested information. TurboTax will then calculate your quarterly estimated payments for 2020.

Alternatively, you can print the blank vouchers from IRS.gov and write in your social security number, name, address and amount and mail them. Here is a link to the IRS instructions and forms: Form 1040ES

topic Should I do something for my tax now for shares selled end of January? Thank you in Get your taxes done using TurboTax

Should I do something for my tax now for shares selled end of January? Thank you

Re: Should I do something for my tax now for shares selled end of January? Thank you

Re: Should I do something for my tax now for shares selled end of January? Thank you

Re: Should I do something for my tax now for shares selled end of January? Thank you