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abixak1
New Member

Upon printing out my finished forms I noticed 1040ES payment vouchers and NC 40 vouchers. Why are they necessary? My taxes are based on a time capital gains..not income

These state and federal taxes were based on a one time capital gain, not income.
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VolvoGirl
Level 15

Upon printing out my finished forms I noticed 1040ES payment vouchers and NC 40 vouchers. Why are they necessary? My taxes are based on a time capital gains..not income

You can ignore them.  The estimated payments are optional to pay. They are estimates for next year. Turbo Tax doesn't want you to owe next year. They might have printed out if you got a one time large income this year. Like if you took a IRA or 401K distribution or had large capital gains.   They DO NOT get sent to the IRS or state with your return.

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2 Replies
VolvoGirl
Level 15

Upon printing out my finished forms I noticed 1040ES payment vouchers and NC 40 vouchers. Why are they necessary? My taxes are based on a time capital gains..not income

You can ignore them.  The estimated payments are optional to pay. They are estimates for next year. Turbo Tax doesn't want you to owe next year. They might have printed out if you got a one time large income this year. Like if you took a IRA or 401K distribution or had large capital gains.   They DO NOT get sent to the IRS or state with your return.

abixak1
New Member

Upon printing out my finished forms I noticed 1040ES payment vouchers and NC 40 vouchers. Why are they necessary? My taxes are based on a time capital gains..not income

Thank you, I was almost in a panic thinking they would come knocking at my door and haul me away...my pets would hate that!

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