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PJHaigh13
New Member

Can I save my return, clear some of the information and reload it with 2020's estimated wages to estimate my taxes, and then exit without saving?

 
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4 Replies
KathrynG3
Expert Alumni

Can I save my return, clear some of the information and reload it with 2020's estimated wages to estimate my taxes, and then exit without saving?

It is a best practice to keep your return as filed for 2019. 

 

To project what your taxes will be for 2020, I recommend instead using this IRS Tax Withholding Estimator so you can get a very clear idea of what you will owe federally.

 

You can contact your State Department of Revenue, for their estimated tax withholding recommendations.

 

By submitting updated W-4 forms for the Federal and State Taxes, you can set it up as you wish--either fairly close to $0 or an estimated amount for a refund.

 

These are the tax brackets for 2019 and for 2020

 

PJHaigh13
New Member

Can I save my return, clear some of the information and reload it with 2020's estimated wages to estimate my taxes, and then exit without saving?

The IRS Tax Withholding Estimator looks really good. Thanks. It should really help.

Can I save my return, clear some of the information and reload it with 2020's estimated wages to estimate my taxes, and then exit without saving?

Thank you for your answer @KathrynG3 .  That was exactly what I needed too @PJHaigh13 .

KathrynG3
Expert Alumni

Can I save my return, clear some of the information and reload it with 2020's estimated wages to estimate my taxes, and then exit without saving?

You're welcome! I am happy to help!

@PJHaigh13 

@lmatako20 

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