@mulleryi
Yes...the desktop version can help you with calculating what estimated amount(s) to pay.
No...you cannot set up those payments thru TTX. You either use the printed vouchers to mail in with a check...or go to the IRS's online payment site to direct debit the amounts you need to pay.
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1) Open your 2023 tax return in desktop software
2) go to the "Federal Taxes" section....."Other Tax Situations" menu page
3) Scroll down and Start...or Update.. on "Form W-4 and estimated taxes"
4) Say NO to the W-4 change
5) Review estimates...Review Now
6) Continue thru the following pages, carefully estimating what wages, withholding, cap gains etc etc you expect for 2024
7) When you get towards the end, there is a page where you enter what estimates you've already paid...so for Q1 and Q2, you'll need to enter zero's.
8 ) There is a following page to use rounding...I round to the nearest $10 or $100 (i.e you really don't want to mess with paying cents on a gross estimate anyway). There will a page that shows the $$ you should have paid in all 4 quarters...you can ignore that for the moment.
9) Say yes to printing the vouchers
10) switch to Forms Mode
11) It should open to the Estimated Tax Payments Options form. IF it doesn't, find it and click on it
12 ) go down to the Schedule of Estimated Payments, and put an X in the box for Q3. That will sum up the amounts form Q1 and Q2 that you didn't pay, but should have if you were going to pay all 4 quarters.
13) Print that Q3 voucher from Forms Mode (look for it in the left-side window), and mail it in to the IRS with a check.....or but I suggest you should also add in the amount for Q4 too and change it on the actual payment on the 1040 ES Q3 form in Forms Mode to be the total you expect to need to pay (Override).
or...you can pay with direct debit (or CrdtCd) on the IRS direct debit payment website.
Payments | Internal Revenue Service (irs.gov)
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With uneven Estimated payments during the year, you will likely need to use the "Annualized Income" forms (form 2210/2210AI) when you prepare your 2024 taxes next year, in order to reduce or eliminate an underpayment penalty....even if you end up getting a refund. The initial default calc for underpayment penalties....that assumes you received income evenly over the year.....thus you'll end up having to provide details of exactly when you received all your income, investment gains..etc quarter-by quarter, if you end up needing to reduce or eliminate the penalty calculated by the default method. Just enter everything for the year like you normally do when you prepare your taxes, and if the forms indicate you a e getting assessed a penalty...then go thru the Special calcs to reduce or eliminate the penalty (dont' bother if it's $50 or less...too big a mess to bother with for $50)
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
