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Prepayment of tax for a state I don't live in anymore?

In 2019 we moved from NY to NC.  TurboTax is forcing me to mail my NY State return.  In this packet there is a section that asks me to pre-pay estimated payments for next years tax return- but I won't have income from NY State in 2020.  Can anyone explain if I should make these estimated payments or not?
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Accepted Solutions
DawnC
Employee Tax Expert

Prepayment of tax for a state I don't live in anymore?

If you will not have NY income in 2020, there is no reason to make those payments; they are not required.  We'll automatically include four quarterly tax payment vouchers with your printout if you didn't withhold or pay enough tax this year. We do this to head off a possible underpayment penalty on next year's taxes.

 

You may get these vouchers if you're self-employed or had an uncharacteristic spike in your income this year. For example, you sold stock or took a large distribution from your retirement plan.

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.

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2 Replies
DawnC
Employee Tax Expert

Prepayment of tax for a state I don't live in anymore?

If you will not have NY income in 2020, there is no reason to make those payments; they are not required.  We'll automatically include four quarterly tax payment vouchers with your printout if you didn't withhold or pay enough tax this year. We do this to head off a possible underpayment penalty on next year's taxes.

 

You may get these vouchers if you're self-employed or had an uncharacteristic spike in your income this year. For example, you sold stock or took a large distribution from your retirement plan.

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.

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

Prepayment of tax for a state I don't live in anymore?

Very helpful response!  Thank you.

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