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bracken
New Member

How do I include estimated tax payment when entering taxes paid by quarter?

I am annualizing my AGI in order to avoid underpayment penalty.  As part of this, I am asked to enter tax withheld by quarter, but it says the total can't exceed the total amount withheld for me in 2018.  It doesn't recognize an estimated tax payment I made in May 2018 (which I entered in the "deductions and credits section).  I see no where to enter this when entering quarterly tax payments.

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3 Replies
IreneS
Intuit Alumni

How do I include estimated tax payment when entering taxes paid by quarter?

Form 2210, Underpayment of Estimated Tax, has not yet been finalized and the calculations may not have been updated. 

The estimated tax payments should be entered in the Deductions & Credits section, which you probably did correctly (the steps are listed below).  Your payments will not appear again as you go through the interview for the underpayment penalty/annualized income section.  When you are going through the interview to annualize your income, you will a come  to a screen, Actual Withholding.   You will be asked if you want the amount of your estimated payment that you made in May applied to all 4 quarters or just the quarter in which it was paid.


To check that your estimated tax payments are entered correctly, please follow these steps:

  1. Click on FederalDeductions & Credits. 
  2. In the Estimates and Other Taxes Paid section, click on the Start/Update box next to Estimated tax payments
  3. On the next screen, click the Start/Revisit box next to the type of tax payment (Federal, State, Local).   
  4. Answer Yes to the question about paying estimated taxes for 2018.
  5. Enter your payment(s) on the next screen, Federal [or state or local] estimated tax payments.  Select the locality from the drop-down list (in the state or local screens) and enter the amount paid in the box.

For information on IRS Forms availability, please see this FAQ:

https://ttlc.intuit.com/replies/3319876


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bracken
New Member

How do I include estimated tax payment when entering taxes paid by quarter?

I went through the process to annualize income again.... I never got the question: "You will be asked if you want the amount of your estimated payment that you made in May applied to all 4 quarters or just the quarter in which it was paid."   Also, I did confirm that I entered my estimated tax payment correctly.
IreneS
Intuit Alumni

How do I include estimated tax payment when entering taxes paid by quarter?


As I mentioned in my original answer:  Form 2210, Underpayment of Estimated Tax, has not yet been finalized and the calculations may not have been updated yet.  For information on forms availability, please see the following table:  <a rel="nofollow" target="_blank" href="https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html...>
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**Mark the post that answers your question by clicking on "Mark as Best Answer"
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