I have to pay estimated taxes soon (Jan 15) for Q4 2023 as a freelancer. I've entered my 1099 income and expenses, and TurboTax calculated a federal tax amount but I don't see how to submit 1040-ES through TurboTax. It's not in my forms list. I'm using TT for home and business. Could you help? Does TT for home and business allow submitting and paying 1040-ES?
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If you are using the TurboTax 2023 desktop editions, any Form 1040-ES that is generated would be for tax year 2024.
There is no need for you to print and mail a Form 1040-ES to pay the 2023 estimated taxes. You can use the IRS payment website for the 2023 estimated tax payment with Direct Pay - https://www.irs.gov/payments
You will receive a confirmation number from the IRS which can be used to verify your payment if ever questioned by the IRS.
You will need to report the 2023 estimated tax payment on your 2023 tax return.
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
It only prints out the 1040 ES for you to send in. Or you can pay on the IRS website. Be sure to pick 2023 1040ES payment
https://www.irs.gov/payments
Are you using the 2022 program? The 2023 program will print out the estimates for 2024. Or you can fill out a blank 1040 ES to mail in with your check.
https://www.irs.gov/pub/irs-prior/f1040es--2023.pdf
If you are using the TurboTax 2023 desktop editions, any Form 1040-ES that is generated would be for tax year 2024.
There is no need for you to print and mail a Form 1040-ES to pay the 2023 estimated taxes. You can use the IRS payment website for the 2023 estimated tax payment with Direct Pay - https://www.irs.gov/payments
You will receive a confirmation number from the IRS which can be used to verify your payment if ever questioned by the IRS.
You will need to report the 2023 estimated tax payment on your 2023 tax return.
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
thanks DoninGA, thatd' be awesome if i dont have to fill out the form. does IRS say that anwhere on a web page i can save for future?
@BP991 Go to this IRS Tax Topic for payment information - https://www.irs.gov/taxtopics/tc202
When paying electronically, you can schedule your payment in advance. You'll receive instant confirmation after you submit your payment. You can opt in to receive email notifications about your payments. The IRS uses the latest encryption technology making electronic payments safe and secure. It's quick, easy, and much faster than mailing in a check or money order.
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