Estimating what I owe

[anip]

I saw there was a form to estimate how much I owe, but is there any easy way to get an estimate. I don't want to make a mistake filling the form and face a penalty later. 

[CatherineR]

Thanks for the question Anip.

Yes there is an easy way to estimate your taxes for the current year.  Use our Tax Caster program.  Here is the link:

Turbo Tax Caster  

Also you can make your payments on IRS.gov under "make a payment" button.  

Great job being proactive with your taxes!

[SwapnaM]

TurboTax does have Calculators to help figuring out your estimated taxes: Please check out https://turbotax.intuit.com/tax-tools/

If you are using TurboTax for  filing your 2022 tax return, then the software can also help with figuring out the estimated taxes: https://ttlc.intuit.com/turbotax-support/en-us/help-article/estimated-taxes/turbotax-calculate-next-... 

Based on your 2022 tax info, we’ll use the lower of the following IRS-approved methods to calculate your estimated tax payments.

• 90% of your estimated 2023 taxes
• 100% of your actual 2022 taxes (110% if your adjusted gross income was higher than $150,000, or $75,000 if Married Filing Separately)

There are two additional IRS-approved methods available:

• 100% of your estimated 2023 taxes
• 66 2/3% of your estimated 2023 taxes (farmers and fishermen only)