2017 closed an LLC & started an S-Corp. TurboTax told me I should pay the estimated quarterly payments. How do I report that in Turbo Tax?

charityrising · ‎June 6, 2019

I closed a non-LLC in 2017 and started an S-Corp. Used TurboTax to file my taxes. Based on the non-LLC income in 2017, TurboTax said I needed to pay the estimated quarterly taxes. I did. How do I report that in TurboTax when filing my taxes for 2018?

WillK · ‎June 6, 2019

The estimated taxes that you paid during the year gets reported on your personal return. Follow these steps for how to enter that information:

In TurboTax, open your tax return and click on Federal Taxes, then Deductions & Credits
Under All tax breaks, locate the section named Estimates and Other Taxes Paid and click Show more
Click on Start next to Estimates (see attached screenshot).

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View solution in original post

WillK · ‎June 6, 2019

The estimated taxes that you paid during the year gets reported on your personal return. Follow these steps for how to enter that information:

In TurboTax, open your tax return and click on Federal Taxes, then Deductions & Credits
Under All tax breaks, locate the section named Estimates and Other Taxes Paid and click Show more
Click on Start next to Estimates (see attached screenshot).

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

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2017 closed an LLC & started an S-Corp. TurboTax told me I should pay the estimated quarterly payments. How do I report that in Turbo Tax?