Federal Estimated taxes for 2021

[roseA2]

not helpful. see post in line

[VolvoGirl]

Then what do you want to do?  Do you want to change them for lower amounts?  You can cross out the amount and write in what you want to pay.  You don't have to amend.

To prepare or change the estimates for next year you need to be in your current return. But be careful not to change anything in your actual return.

In TurboTax Online, sign in to your account.
Select Tax Home in the left menu.
Scroll down to Your tax returns & documents.
Select 2020, and then select Add a State (you're not actually adding a state, this just gets you back into your return so you can make changes).

Search by typing in W4. Hit the Enter or Return key to get the Jump to w4 link to show up. Go to the W4 page and it will ask if you want to Change your W4. Click on NO. The next page will start the Estimates.

[beachgirl20]

Thank you

[tinkerbell10]

We sold our primary residence for a significant profit (April 2021) compared to the primary house we purchased.(June 2021)

Is there a 2021 estimated tax form for this so we do not get hit with an under payment penalty?

[Judge Leslie]

I am not a tax professional, so my advice is limited: I believe there is a one-time option for seniors (50+?), to lower the taxes on gains from selling primary home.  This may only be for California.  I don't think there is an option in the estimated tax section to account for gains specifically on selling your home.  The estimated tax section asks fairly simple questions like how much will  your total gains be for 2021.

You might try copying your 2020 tax file and go through the 2020 interview with that file.  It will probably ask you for details to see if you qualify for the reduction.

I only got involved in this discussion because I knew how to get to the estimated tax section of TurboTax.  Maybe someone with more knowledge of you situation will also reply.  (I didn't want you think that you were being ignored.)

Good luck!

[Robert I Lambright]

I have sold a vacant  piece of property that I Purchased in 2003 or 2004 and some money