My Federal estimated tax payment looks too large since I had a large on-time dividend last year, which appears to be included in the estimated taxes for this year. There used to be a nice adjustment screen which showed income from the year being filed in one column, and the estimate for the next year next to it; so you could easily input your estimates using the current year data.
Does that screen still exist? Its not listed under topics, I can't find it paging through the interview; going directly to the forms takes you to some unexplained calculation boxes. Has it gone away? If not where is it?
Same question on MA state tax.
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TurboTax still has an estimated tax section. It's called Form W-4 and Estimated Taxes.
The IRS did not extend the deadline for the first period estimated tax payment. It is still due on April 15.
Related Resource:
TurboTax still has an estimated tax section. It's called Form W-4 and Estimated Taxes.
The IRS did not extend the deadline for the first period estimated tax payment. It is still due on April 15.
Related Resource:
Thanks Ernie; just what I was looking for.
Perhaps you can help further; as those screens have gotten noticeably more confusing?:
- There is a screen for "enter investment gains and losses", which includes qualified dividends; OK so far.
- But on the next page, "enter other income" the explanation hotlink says to put in interest and dividend income on "other income". That would seem to be double counting the above entry; and looking at what is filled in from this year, that roughly seems to be the case. Any idea what is going on here; should I in fact be double counting and putting the dividend I entered on the last page here also?
- Then a couple of screens later, on "net investment income" it looks like we are being asked to enter a slightly different version of dividends and interest?
If these screens are using different combos of investment income, I would have expected TT to ask for the info once, then populate/calculate those entries. And the 3 entries seem to be asking for slightly different numbers; but the differences aren't very apparent.
Input?
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