I'm surprised since everything is carried over from previous years that the estimated tax payments from last year is not done so automatically? Before I enter them in, I want to make sure that this is the case.
I'm assuming I enter in all 4 payments under federal? Thanks!
TurboTax has no way of knowing whether or not an estimated tax was actually paid.
To enter, edit or delete estimated taxes paid (Federal, State, Local) -
Click on Federal Taxes (Personal using Home and Business)
Click on Deductions and Credits
Click on I'll choose what I work on (if shown)
Scroll down to Estimates and Other Taxes Paid
On Estimates, click on the start or update button
Or enter estimates paid in the Search box located in the upper right of the online program screen. Click on Jump to estimates paid
Or click on Tax Tools on the left side of the online program screen.
Click on Tools
Click on Topic Search
Type in estimated tax payments, click on GO
Federal estimated taxes paid are entered on Form 1040 Line 26
You're correct, you will have to post your estimated payments for the year, and there are 4 payment periods provided.
This can be posted and seen in TurboTax.
If this does not completely answer your question, please contact us again and provide some additional details.