as an individual user of Turbotax how can one estimate tax liability for a large capital gain in Q4-2025 without having to buy the TurboTx 2025 version yet?

[SteamTrain]

@AKL1 

A couple options to try:

1) Tax Caster  :  TaxCaster 2025

2)  Another user thinks a different Calculator works better.  See the link in the reply at:

Re: TaxCaster 2025
 

3)  Those who have already used the "Desktop" version of 2024 Turbotax, they can use the "What-If" worksheet in the 2024 desktop product.   They copy all their already-filed data in the 2024 column into a separate 2025 column, then change the individual entries to mimic what they currently or propose to expect for 2025.  And then evaluate that result.

[NCperson · Accepted solution]

@AKL1 for most, the capital gain is going to be 15%.  How much is a 'large' capital gain and what is your income  without the capital gain? 

this is rather easy to figure out and doesn't take a software package to estimate.

you could also use this website...it is quite accurate 

https://www.dinkytown.net/java/1040-tax-calculator.html 

[Click]

It could be a little more complicated than that if NIIT comes into play.

@AKL1 Dinkytown should suffice for now, but consider going ahead and buying TT as soon as you need it to start doing estimates. Sure, it may be $10 cheaper Black Friday or right after Christmas, but I just buy it as soon as it is released and I'm done. (I've given up on waiting for Fidelity, if that's the hesitation).

[Mike9241]

a really rough estimate would be 20% the maximum long-term capital gain tax + 3.8% for the net investment income tax and then state taxes if your state has a personal income tax.

if you used desktop for 2024, you could use your estimates for 2025. It's likely that the tax would be higher than what you will actually end up with in 2025

[AKL1]

Good idea! Thanks for mentioning the black friday sale, will buy it then.  

[AKL1]

Thanks, using Dinkytown now.  Had never heard of it, prior.  The complication is, I have no wages to report, was laid off and a senior citizen, now.  I believe the standard deductions for seniors is higher -- I read about some bonus deduction  2025-28.  In other words, very little tax withholding all year, only withheld from unemployment checks and from dividend streams, and then I have to also figure out the number versus 2024 tax paid.  Yes, have used TT for decades now, so I will figure it out now.  Thanks for all the wonderful responses!!

[baldietax]

if hoping to use 2025 version for estimation, Schedule D in desktop is not scheduled to be available until January as of now you can't put in a 1099B for cap gain/loss at least thru interview mode.  VA state is not available yet either, can't download it yet, presumably same for other states.  See

https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product...

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You are looking at the estimated dates those forms will be available for printing to file, or to efile. While changes could still be made (and actually, well after those dates too), the forms in the product right now are useful for estimates. Schedule D, 1099-B, 1099-DIV were in the Windows desktop product as originally released.

I've been using TurboTax for decades, and I'd say that 90% of the time I spend using the product is between mid-November and late December. Preparing a return for filing in Feb/Mar/Apr is the easy part for me.

[baldietax]

ok but I get the following, this is using Mac Premier version.

[Click]

Yes, the availability of state forms is another category of things and not listed in the forms availability link you posted. You are right that OP might not be able to do state estimates before the end of the year. Depending on state, that may or may not be significant. My state, for example, is flat rate with few variations from federal.

[AKL1]

Thanks, all!  I used Dinkytown for my Federal Estimate and the State's 1040-ES worksheet for 2025.  I am done sending estimated tax to the authorities.  Buying this early version of 2025 TT didn't help, it didn't have Sch. D and one couldn't input anything in any background worksheets either.  But it was a good idea buying at Black Friday prices.