Based on your 2020 tax info, we’ll use the lower of the following IRS approved methods to calculate your estimated tax payments.
- 90% of your estimated 2021 taxes
- 100% (110%) of your actual 2020 taxes
There are two additional IRS approved methods available:
- 100% of your estimated 2021 taxes
- 66 2/3% of your estimated 2021 taxes (farmers and fishermen only)
If you’d like to use one of the additional methods, answer Yes to the question "Do you want to adjust your income or deduction?" on the Review Your Estimates for 2021 screen. Once you review your income and deductions, you’ll have the option to select from any of the four methods.
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- Do I need to make estimated tax payments to the IRS?
- How do I print estimated tax vouchers for my 2021 taxes?
- Why did 1040-ES estimated tax vouchers print out? Do I need them?
- Can TurboTax calculate the estimated payments for next year's state taxes?