How did you calculate my Qtrly Est tax payments for 2018 to be 5,611?

[fredmarsha829]

My 2017 tax liability is $20,401. I divided that by 4 to get a qtrly est of $5,100.25/qtr. Isn't that acceptable?

[SteamTrain]

Impossible for any of us to say...go thru all the calculation entries again...but family size, std or Itemized deductions changes for 2018....children go over certain Tax credit age limits...all kinds of stuff....no one really knows how 2018 will shake out with all the changes.  (they are included in the estimate calculations)

IF you don't want to pay it...or think you are correct. just round to 5100 or 5200, for each payment and do that instead....and just use the IRS PDF forms...or pay online....  (assuming all your payments are thru quarterly payments with no withholding on w-2 forms).

<a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/f1040es.pdf">https://www.irs.gov/pub/irs-pdf/f1040es.pdf</a>

[IreneS · Accepted solution]

TurboTax uses 100% of the taxes calculated on your current year return for the estimated tax payments--110% if your income is over $150,000 ($75,000 if married filing separately).  You can always change the method in the Estimated Taxes interview in TurboTax, on the Which Method? screen.  [Screenshot #1, below.]