turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

How do I know how much of my 2022 estimated local taxes that I paid in 2023?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
DawnC
Employee Tax Expert

How do I know how much of my 2022 estimated local taxes that I paid in 2023?

Probably $0.   You don't have to enter anything in those estimated taxes boxes, unless you made estimated payments of taxes other than your withholding.   If taxes aren't withheld from the income you receive, making quarterly estimated tax payments can help you avoid paying a big tax bill or an underpayment penalty in April.   Most people don't pay estimated taxes.  

 

Reasons to pay estimated taxes:

 

1.) When you're self-employed, federal, state, and Social Security taxes aren't taken out of the income you receive.    Instead of paying the entire amount you owe in April, setting up estimated tax payments gives you the flexibility to make four smaller payments during the year.

 

2.) There are other types of income where taxes also aren't withheld. You'll want to consider making estimated tax payments when you receive significant income from the following sources:

  • Alimony
  • Dividends
  • Earnings from a business
  • Gains from the sale of stock or other assets
  • Interest income
  • Rental income
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies