2529143
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

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

How to Avoid Double Counting Estimated Income Tax?

When a user pays quarterly state and federal estimated income tax for the prior calendar year (current tax year), do they also include that income in the TurboTax section "Your income" > "Self-employment income and expenses" in addition to the "1040-es" form under section "Federal" > "Deductions & Credits" > "Estimates and Other Taxes Paid" > "Estimated Tax Payments"?

 

The concern is that the income will be double-counted if added in both sections described above.

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.

3 Best answer

Accepted Solutions

How to Avoid Double Counting Estimated Income Tax?

The estimated tax payments are only entered in the Estimates section of the program.

 

To enter, edit or delete estimated taxes paid (Federal, State, Local) -

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Deductions and Credits
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Estimates and Other Taxes Paid
  • On Estimates, click on the start or update button

Or enter estimates paid in the Search box located in the upper right of the online program screen. Click on Jump to estimates paid

 

Or click on Tax Tools on the left side of the online program screen.
Click on Tools
Click on Topic Search
Type in estimated tax payments, click on GO

 

Federal estimated taxes paid are entered on Form 1040 Line 26

View solution in original post

How to Avoid Double Counting Estimated Income Tax?

The TurboTax support team member I spoke with shared the same information.

 

Much appreciated!

View solution in original post

How to Avoid Double Counting Estimated Income Tax?

All income should be included in the TurboTax section "Your income" > "Self-employment income and expenses".

  • This includes earned income that has been accounted for when paying the estimated income taxes in the prior calendar year.
  • When working on the current tax year TurboTax will ask what has already been paid in estimated tax payments in the prior calendar year.

View solution in original post

3 Replies

How to Avoid Double Counting Estimated Income Tax?

The estimated tax payments are only entered in the Estimates section of the program.

 

To enter, edit or delete estimated taxes paid (Federal, State, Local) -

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Deductions and Credits
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Estimates and Other Taxes Paid
  • On Estimates, click on the start or update button

Or enter estimates paid in the Search box located in the upper right of the online program screen. Click on Jump to estimates paid

 

Or click on Tax Tools on the left side of the online program screen.
Click on Tools
Click on Topic Search
Type in estimated tax payments, click on GO

 

Federal estimated taxes paid are entered on Form 1040 Line 26

How to Avoid Double Counting Estimated Income Tax?

The TurboTax support team member I spoke with shared the same information.

 

Much appreciated!

How to Avoid Double Counting Estimated Income Tax?

All income should be included in the TurboTax section "Your income" > "Self-employment income and expenses".

  • This includes earned income that has been accounted for when paying the estimated income taxes in the prior calendar year.
  • When working on the current tax year TurboTax will ask what has already been paid in estimated tax payments in the prior calendar year.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question