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dtwilkins
New Member

Filing an extension

We are filing an extension - we used the TaxCaster tool to estimate our taxes owed.  The turbo tax extension page that says "Let's Estimate your 2016 taxes" has a blank for "total taxes owed". After completing all the steps in the tax caster, it did not have a line for taxes owed.  Instead, it has a line for "regular taxes" and another line for "tax credits". Should we subtract the tax credits from the regular taxes line before entering it as "total taxes owed"?

Thank you...this is the first time we've ever filed an extension & we don't want to make a mistake.
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IreneS
Intuit Alumni

Filing an extension

Yes.  Subtract the credits from the regular taxes to get the balance owed.

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1 Reply
IreneS
Intuit Alumni

Filing an extension

Yes.  Subtract the credits from the regular taxes to get the balance owed.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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