You can set up a userid just to work with the figures and estimate what you will make in 2021 and what you will owe.
To set those up in Deluxe:
1. Click Federal on the left-hand side menu.
2. Click Other Tax Situations across the top.
3. Click See all uncommon tax situations.
3. Scroll down to Other Tax Forms.
5. Click Start or Revisit by Form W-4 and Estimated Taxes.
Click No on the Adjust How Much Tax You Pay screen.
Click Review Now on the Review your Estimates? page.
Walk through the interview using next year's estimated income to print out your estimates. This, from Turbo Tax help, tells you how to estimate your total self-employment/independent contractor job wages:
Estimating Your Self-Employment Income
Include your self-employment income (or loss) from a business you own as a sole proprietor and any other self-employment income (or loss) you expect, such as freelance and consulting fees, or income from farming or partnerships. We use this amount to calculate your self-employment tax.
If you also have an employer, we take into account your wages so that we don't calculate too much self-employment tax for you.
Your self-employment tax consists of:
- Social security taxes, taxable only up to a maximum wage base
- Medicare taxes, taxable on all of your self-employment income and wages. There's no upper limit, as there is with Social Security taxes. We'll include the Medicare taxes on all of your self-employment income, no matter how much salary you earn.
Then go back to your filed return and click add a state.
- Go to other Tax Situations
- Other Tax Forms
- Form W-4 and Estimated Taxes
- Prepare your 1040-es vouchers for 2021 taxes and click to have them print with your return
- Review the tax return
- Go to Tax Tools
- Print center
- Print out your 2020 return to a pdf and then print the tax vouchers to mail in for your four payments.
Can TurboTax calculate next year's federal estimated taxes?
