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New Member
posted Jun 17, 2020 11:06:08 PM

How do I update my 2020 estimated tax calculation?

My estimated 020 income has changed. Is there a way to re-calculate my quarterly payments?

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2 Replies
Returning Member
Jan 25, 2021 3:49:09 PM

I not sure my information about my income is accurate.  I have my 2020 income documents but turbo tax did ask for them. Why?

Intuit Alumni
Jan 25, 2021 4:41:12 PM

@Mitchell 6420 Can you please explain your question more? What are you trying to calculate?

 

@gmorgan1288 To prepare your quarterly payments, follow the steps below according to @Irene2805.

  1. To review your estimated payment calculation for 2020 please follow these steps:

  2. In your return, click Federal Taxes > Other Tax Situations.
  3. In the Other Tax, Forms section click the Start/Update box next to Form W-4 and estimated taxes.
  4. On the screen, Adjust How Much Tax You Pay, click the No box.
  5. On the Review, Your Estimates screen, click the Review Now box.
  6. When you come to the Enter Investment Gains and Losses screen, you will see the 2019 amounts listed.  Enter the expected 2020 amount in the 2020 column.  Enter zero if you don't expect to have any of that income.