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nguyenj1
New Member

Can I use TurboTax to file a 1040-ES to pay quarterly estimated taxes?

 
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2 Replies
MargaretL
Expert Alumni

Can I use TurboTax to file a 1040-ES to pay quarterly estimated taxes?

Yes, you can. Turbo Tax does assist in calculation and preparation of Estimated Tax Payments. While the estimated payments are based on your 2016 tax return, you may adjust your income and deductions to properly reflect 2017 tax situation.

Once your 2016 tax return is prepared, please visit:

  1. Federal Taxes Tab (please see attached picture)
  2. Other Tax Situations tab
  3. Other Tax Forms, select Form W-4 and Estimated Taxes

At this point, Turbo Tax will ask a series of questions. The first question is in regards to form W4 withholdings. If form W-4 is not applicable, select ‘No’ and continue.

Turbo Tax originally calculates estimated taxes based on your 2016 information.  Since your 2017 information may be different, please make sure that you make adjustments to your income and deductions so that Turbo Tax can recalculate your estimated payments for 2017.  Otherwise, the estimates will not be accurate and you will under or overpay. To do so, please answer “Yes” to “Do you want to adjust your income and deductions?” and continue through the questions. Once you are done, you will be able to print the estimated vouchers.

 

Note: 1040ES paid are entered in TurboTax as follows:

  1. Federal Taxes
  2. Deductions & Credits
  3. Scroll down to Estimates and Other taxes Paid
  4. Select Estimates - this applies to federal and state and local data entry; TurboTax automatically transfers the information to state and local tax returns.
nguyenj1
New Member

Can I use TurboTax to file a 1040-ES to pay quarterly estimated taxes?

Thank you! Now the only problem is: the page won't load for me when I click on the link you described. It returns me immediately to the "Other tax situations" tab. What should I do?
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