Estimate Taxes for 2024

[melpaw57]

Greetings all. I'm using TurboTax Desktop for 2024. I've had an additional income source in 2024 and I'd like to get an estimate of what my total tax liability will be including this new source. 

What's the best way to do this?

I'd like to get this now in case I need to pay in a lot, and may want to offset some of it via donations, etc.

I saw that TurboTax has an online estimator, but I've always done my taxes using the desktop version and I don't know if the online estimator will work for me.

Thanks.

[xmasbaby0]

If you have the desktop download for 2024, why not just use your software?   With desktop software you can prepare an unlimited number of returns and "play" around with the amounts as you want to .   You do not have to file every return you prepare---you can create "dummy" returns to plug in amounts to see the results.

[Mike9241]

if you have the desktop app, why not just use it? There is no limit to the number of returns you can create with the app. Just make sure to save the file clearly indicated as an estimate so you don't accidentally file it. It's not perfect because some items have not been updated for the changes in the 2024 tax laws.  

Or use the inline calculator.  I'm not sure if it's more accurate than the desktop app. You could always compare the two results

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/ 

[melpaw57]

Thanks for the replies. I had thought about that, but quite frankly without my W2 and various 1099's I'm not sure how accurate it would be. I guess I'll mull through it and see how it goes. 

Thanks again.