estimated state taxes

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Do I include my 4th quarter estimated tax payment that I paid in January 2020 or the one I paid in January 2021 on my 2020 Tax Return? Or do I list them both?

thanks!

AnnetteB6

Employee Tax Expert

You will list them both, but in different input screens for each.

The 4th quarter payment that was paid in January 2020 for your 2019 taxes will be used as a possible itemized deduction. The payment made in January 2021 for your 2020 taxes will be used to reconcile your 2020 tax return.

Use the following steps to go to the estimated payments section of your return:

On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
This opens a box where you can type in “estimated tax payments” and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
The search results will give you an option to “Jump to estimated tax payments”
Click on the blue “Jump to estimated tax payments” link
Click Start beside State Estimated Taxes for 2020 to enter the payments made for your 2020 return

Then, click Start beside 2019 state estimated taxes paid in 2020 to enter the payment that was made in January 2020.

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SteamTrain

Level 15

We are talking just about 2019 and 2020 4Q State Estimated payments here....those are both entered in the Federal section of the software.

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IF you paid a Federal estimated payment for Q4 of 2019, in Jan of 2020, and your state is one of only a few states that allows deductions for Federal taxes paid ...then that Q4 2019 Federal estimate (if paid in Jan of 2020) would be entered only during the State interview.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*