I seriously underestimated my federal quarterly estimated tax in 2023! I read in Form 1040-ES that I can make more than 4 quarterly PMTS. I sent in what is now my 4th estimated tax payment in December. I plan on making another payment on Jan 15 2024. Will I be able to enter a fifth payment in 2023 Turbotax Premier ? It seems as if in the past I can only enter quarterly payments. Thanks!
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You should be able to enter more payments into Turbo Tax. At the bottom of the 4 quarter boxes you can click on Add another Payment with a date and amount.
You can make as many 4 quarter estimated tax payments as you want up through January 16, 2024. There is no requirement that you can only make one payment per quarter.
Go to the IRS payment website to make your 2023 estimated tax payments using Direct Pay - https://www.irs.gov/payments
From the IRS:
"Taxpayers can make payments more often than quarterly. They just need to pay each period’s total by the end of the quarter."
https://www.irs.gov/newsroom/basics-of-estimated-taxes-for-individuals
You should be able to enter more payments into Turbo Tax. At the bottom of the 4 quarter boxes you can click on Add another Payment with a date and amount.
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