Estimated Tax Payment for 2024 processed on 1/2/2025

[Jonathan1]

I understand estimated tax payments for a given year (January to December) may be made up to January 15 of the following calendar year. 

I made an estimated payment for year 2024, on January 2, 2025.  For estimated tax payments that I made during 2024 they are reflected on the IRS site as "Type: Estimated Tax Payment".  The payment I made on January 2, 2025 is reflected on the IRS site as "Type: Balance Payment".    

Looking for some insight as to how I should interpret or treat the January 2, 2025 payment.  I have not yet filed my year 2024 income taxes.   May I include the January 2, 2025 payment amount with all other estimated payments that I made in 2024 for year 2024.  

[MinhT1 · Accepted solution]

Yes, The estimated tax payment you made on January 2, 2025 is for tax year 2024 and should be counted for tax year 2024.

The first estimated tax payment for 2025 is not due until April 15, 2025.

[Jonathan1]

Thank you so much for clarifying. As mentioned, the "balance payment" for type of transaction instead of "estimated tax payment" for type on the IRS site was confusing to me.  

[fanfare]

"Balance payment" can be entered on Schedule 3 Line 13z (type: Bal Pmt).

I can't say whether your TurboTax supports an entry on that line.

@Jonathan1