turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

robcat26
Returning Member

I need to estimate my 2023 Q1 self-employment taxes via 1040-ES without anchoring it to my 2022 tax return

January to March of 2023 was my first quarter as self-employed. I would like to fill out a 2023 1040-ES to help me calculate the amount of my estimated taxes, understood I don't need to submit this form to the IRS. I'm hesitant to buy a TurboTax license because I can't find any evidence that TurboTax can do this.

 

All the documentation I've been able to find mentions building my 2023 estimate off my 2022 return, but this is not relevant in my case because I was full-time employed in 2022 and my taxes were much higher then.

 

Is there a way to do this, or do I need to fill out my 2023 1040-ES manually?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
JohnB5677
Expert Alumni

I need to estimate my 2023 Q1 self-employment taxes via 1040-ES without anchoring it to my 2022 tax return

Follow the steps below to prepare your estimated taxes.  The program will populate your 2022 numbers, but you can adjust them as needed,

 

  1. On the menu bar on the left that shows.
    1. My Info
    2. Federal
    3. State
    4. Review
    5. File
  2. Select Tax Tools
  3. On the drop-down select Tools
  4. There will be 4 green boxes
  5. Select Tax Topics
  6. Select 1040-es estimated tax for next year.

This will calculate quarterly estimated tax payments and prepare vouchers (Form 1040-ES) for you to print. 

 

You're not required to make estimated tax payments; we're just suggesting it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

  • You can mail your payment along with the corresponding 1040-ES voucher to the IRS address listed on the voucher. 
  • Additional estimated tax payment options, including direct debit, credit card, cash, and wire transfer, are available at the IRS Payment website.
  • You also have the option when you file your return to apply some or all of your refund to your estimated tax payments for the coming tax year.

How do I prepare Estimated Taxes.

 Quarterly payment due dates 


 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

3 Replies
JohnB5677
Expert Alumni

I need to estimate my 2023 Q1 self-employment taxes via 1040-ES without anchoring it to my 2022 tax return

Follow the steps below to prepare your estimated taxes.  The program will populate your 2022 numbers, but you can adjust them as needed,

 

  1. On the menu bar on the left that shows.
    1. My Info
    2. Federal
    3. State
    4. Review
    5. File
  2. Select Tax Tools
  3. On the drop-down select Tools
  4. There will be 4 green boxes
  5. Select Tax Topics
  6. Select 1040-es estimated tax for next year.

This will calculate quarterly estimated tax payments and prepare vouchers (Form 1040-ES) for you to print. 

 

You're not required to make estimated tax payments; we're just suggesting it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

  • You can mail your payment along with the corresponding 1040-ES voucher to the IRS address listed on the voucher. 
  • Additional estimated tax payment options, including direct debit, credit card, cash, and wire transfer, are available at the IRS Payment website.
  • You also have the option when you file your return to apply some or all of your refund to your estimated tax payments for the coming tax year.

How do I prepare Estimated Taxes.

 Quarterly payment due dates 


 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
robcat26
Returning Member

I need to estimate my 2023 Q1 self-employment taxes via 1040-ES without anchoring it to my 2022 tax return

Thank you! This is going to work for me. "You can adjust them as needed" is key, and as it turns out I can enter them in from scratch as needed without having my 2022 return in the system.

 

FYI (for others who might have a similar question) I had to click on Tax Home, Income & Expenses, then Pick Up Where You Left Off before the full left-hand menu appeared. And in my version there wasn't a green Tax Topics button and Topic List wasn't helpful, but I found the 1040-es after clicking the green Topic Search button.

Bees
Level 7

I need to estimate my 2023 Q1 self-employment taxes via 1040-ES without anchoring it to my 2022 tax return

https://www.bankrate.com/taxes/calculators/

Another source of helpful information. 

Disclaimer: Not a tax professional. Information gathered from internet links. Anything dated in June 2019 was posted in prior years and is before the 2019 limits and changes.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies