I'm at the point where I'm scheduling my 2021 NY State estimated payments. But I already paid the first quarter online on 4/15/21. Do I manually change the first quarter payment to $0, and then manually adjust the remaining 3 quarters to add up to the projected total tax liability?
On the Federal estimated tax payments there was a way to enter that I had already made the first quarter payment. But no such thing on the State side, unless I've missed something.
Thanks.
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You will be able to edit your state tax return by doing the following:
Thanks for responding. TurboTax automatically divided my 2021 estimated tax liability in 4 equal payments. Since I already paid $500 online for the 1st quarter payment I've manually adjusted the first quarter with no payment scheduled and adjusted the following 3 quarters to add up to the total estimated 2021 liability. Since I underpaid on the first quarter I've increased the following 3 quarters.
Have I handled this correctly? I wish there was a way for TurboTax to record my $500 payment I already made for the first quarter of 2021.
Yes, you did that correctly.
You should be good to go ahead with the remaining three estimated tax payments.
You can be fined for any estimated tax payment that is too small.
Adding more in the next payment to "make it up" won't work.
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