DO i HAVE TO PAY ESTIMATED TAX PAYMENTS FOR 2017 THAT ARE ON MY 2016 RETURN?

null98 · ‎June 5, 2019

MaryK1 · ‎June 5, 2019

No you are not required to pay the estimated taxes. Turbo Tax calculates the estimated tax payments based on your 2016 entries. The IRS has a penalty if you do not make estimated during the year and have a tax due of more than $1000. If your income was higher in 2016 because of a big payment, or you adjusted the withholding on your W2s or 1099s, the estimated tax payments are not necessary.

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DO i HAVE TO PAY ESTIMATED TAX PAYMENTS FOR 2017 THAT ARE ON MY 2016 RETURN?