topic Re: I can't figure out how to use TurboTax online for first partial year LLC estimated payments in Business & farm

I can't figure out how to use TurboTax online for first partial year LLC estimated payments

mikenrita — Thu, 13 Nov 2025 00:23:46 GMT

I started a single-member LLC in August 2025 (two months ago). I cannot figure out how to use TurboTax Online to determine estimated payments I probably need to make by the January 15, 2026, filing deadline. When I log in (long-time user as a W-2 employee), it seems I can only start a new 2024 return.

Re: I can't figure out how to use TurboTax online for first partial year LLC estimated payments

xmasbaby0 — Thu, 13 Nov 2025 00:59:52 GMT

You cannot start a new 2024 return using online TurboTax. And the 2025 online software will not become available until sometime in early to mid-December 2025.

You have been self-employed for a relatively short time. You will prepare a 2025 tax return and enter your W-2 income and your self - employment income, as well as prepare a Schedule C for your business expenses.

If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare, you will need to use online Premium software or any version of the desktop software download so that you can prepare a Schedule C for your business expenses.

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-self-employment-business-expenses-like-home/L1k6HJY4A_US_en_US?uid=m6jrthmp

If you live in a state with a state income tax, you might need to make estimated payments to your state.

https://turbotax.intuit.com/tax-tips/small-business-taxes/the-home-office-deduction/L1RZyYxzv

https://ttlc.intuit.com/turbotax-support/en-us/help-article/estimated-taxes/make-estimated-tax-payments/L5svMESaC_US_en_US?uid=mdna5aoh

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

https://ttlc.intuit.com/community/business-taxes/discussion/self-employed-don-t-miss-these-tax-moves/00/3400413

https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-schedule-c/L5Fz3j5us_US_en_US?uid=m6a6gknk

https://ttlc.intuit.com/turbotax-support/en-us/help-article/payroll-additions-deductions/qualify-qualified-business-income-deduction/L0rM2cIIQ_US_en_US?uid=m5zpoxad

https://ttlc.intuit.com/turbotax-support/en-us/help-article/self-employment-taxes/self-employed-expenses-deduct/L37ZS1B8T_US_en_US?uid=m6fntpg7

Re: I can't figure out how to use TurboTax online for first partial year LLC estimated payments

mikenrita — Thu, 13 Nov 2025 01:13:59 GMT

Thanks so much for your reply and advice. I appreciate it. Are you saying I simply should not worry about making estimated payments for my new LLC earnings in August through December 2025?

Re: I can't figure out how to use TurboTax online for first partial year LLC estimated payments

VolvoGirl — Thu, 13 Nov 2025 01:48:52 GMT

You would need to use your 2024 tax return to calculate the 2025 estimates. But I would just send in 20% of your estimated Net Profit to cover the self employment tax.

Self Employment tax (Scheduled SE) is automatically generated if a person has $400 or more of net profit from self-employment. You pay 15.3% SE tax on 92.35% of your Net Profit (If it is greater than $400). The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare (FICA). So you get social security credit for it when you retire.

The SE tax is already included in your tax due or reduced your refund. It is on the 1040 Schedule 2 line 4 which goes to 1040 line 23. The SE tax is in addition to your regular income tax on the net profit.

So for 1099 or self employment income you need to send in quarterly estimated payments or increase W2 withholding to cover the Self Employment tax.

here are the blank Estimates and instructions (the actual 1040ES forms are at the very bottom so scroll way down)

http://www.irs.gov/pub/irs-pdf/f1040es.pdf

Or you can pay directly on the IRS website https://www.irs.gov/payments

Be sure to pick the right kind of payment and year.....2025 Estimate