Can I use Turbotax to file my calculate my California 2020 Quarterly estimated taxes form 540-ES?

[JotikaT2]

Yes.

Go into the state interview section for California.

1. Go through the pages until you see Your 2019 California taxes are ready for us to check.
2. Select Start to the right of Other situations
3. Continue until you see the screen A few things before we wrap up your state taxes
4. Select Estimated Taxes for Next Year under Other Forms

Follow through the screens and answer the questions. 

TurboTax will generate your estimated tax payment vouchers based upon your answers.

[peterinsfca]

Thanks but I finished my 2019 returns here in January and I seem to be stuck on that page whenever I log in.  How can I get out and get where I need to be on the site?

[VictoriaD75]

If you are using TurboTax Online, when you log in, click Add a State. It will allow you back into the software without putting you into an amended return. Below is some information on making this calculation.

If you’re required to make estimated tax payments and your 2019 California adjusted gross income is more than:

• $150,000
• $75,000 if married/RDP filing separately

Then you must base your estimated tax based on the lesser of:

• 90% of your tax for 2020
• 110% of your tax for 2019 (including alternative minimum tax)

This rule does not apply to farmers or fishermen.

Example:

Mrs. Smith’s tax liability was:

• $5,000 in 2020 (current year). 90% is $4,500
• $3,000 in 2019 (prior year). 110% is $3,300

Since the prior year amount is less than the current year, Mrs. Smith must pay at least $3,300 in 4 payments.

High income estimated tax

If your 2020 California adjusted gross income is equal to or greater than:

• $1,000,000
• $500,000 if married/RDP filing separately

You must pay your estimated tax based on 90% of your tax for 2020.

Example:

Mr. and Mrs. Grant’s 2020 joint AGI was $1,250,000. Their tax liability was:

• $127,518 in 2020 (current year). 90% is $114,766

California Estimated Tax Payments