Estimated payments

[colettehonda]

If I made estimated payments to the Franchise Tax Board, do I enter the payments on my Federal or State return?

[ColeenD3]

Enter it in the Federal portion and it will carry over to the state.

If you have state tax estimates or any other payments enter them here: (See the attached screenshot below. Click to enlarge.)

•        Click on Federal Taxes (Personal using Home and Business)

•        Click on Deductions and Credits

•        Click on I'll choose what I work on (if shown)

•        Scroll down to Estimates and Other Taxes Paid

•        On Estimates, click on the start or update button

[colettehonda]

I entered my estimated payments to the Franchise Tax Board on my Federal return, so that is okay?  I do not need to do an amendment?

[BillM223 · Accepted solution]

To be clear, you enter both federal and state estimated tax payments in the same general area (the one that Collen showed), but you are not actually entering the FTB estimated tax payments on your federal return.

If you look at her screenshot, you will see that federal estimated tax payments and state estimated tax payments have two separate links.

So did you actually enter the FTB estimated tax payments on the first link or the second?

That is, did the estimated tax payments appear as part of line 26 on your 1040 or as part of line whatever on form 540 (sorry, the form has been withdrawn by the state for updating). If the estimated tax payments for the state actually appears on your 1040, then, yes, you will need to amend...

[VolvoGirl]

Yes you enter most things including state items on the federal side then they flow to the state.

You enter state estimated payments under the federal side (because they can be a federal itemized Deduction).  THEN after you finish filling out the estimates under Federal you need to click on the State Tab at the top and start the state return over for it to update.

[colettehonda]

I entered the estimated payments (Franchise Tax Board/State) on the 1040, but not on the 540.  I also think that I need to do an amendment, because since I applied the payments to 1040 it was deducted, so I owe that money to the 1040.  I didn't not apply payments to the 940, so I think I should get a refund from state.  So do I also do an amendment for my 540? I think I also need to do an amendment, because I need to know how much I owe, and it would give me documents to attach with the payment.  

[colettehonda]

Now I understand what you are saying, but I already submitted my taxes putting the Franchise/state estimated payments under 1040.  So when I do an amendment should I remove the payments from 1040 line and put it under the state line?  Will it then automatically carryover to a state amendment?

[colettehonda]

I can't seem to find where to do an amendment on Turbo Tax.  I saw that option before I started my taxes when I originally opened Turbo Tax, but do not see that option now.

[ToddL99]

Log in to your TurboTax program and type "amend" in the Search window. Then, select "jump to amend" from the results.

See the following two screenshots for aid in navigating:

@colettehonda

[rxcab29]

Where do you put estimated payments on tax form that I pair-- Colorado state paid on 11/9/2021. 4,000,

                                             11/10/2021 4,000

  total state paid. 8000

Federal Government paid on 11/5/2021. 12,000

All payments paid through direct deposit. estimated payments.

[Critter-3]

Look at Colleen's post with the screenshot earlier in this thread  ... all estimates are entered in the same section of the FED area ... enter them in the correct spots.