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Level 2
June 4, 2019
Question

I owed $2400 for 2018. Turbotax calculated $1132/quarter for me to pay in estimated tax in 2019. If I adjust my withholdings do I still need to pay that much?

  • June 4, 2019
  • 1 reply
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1 reply

Level 15
June 4, 2019

No, if you adjust your withholding you can lower the amount of estimated tax you are required to pay. 

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Kenb9Author
Level 2
June 4, 2019
Dumb question. Does the extra withholding and what I pay quarterly still need to add up to $4528? Why is it so high in the first place?