Solved: I filed my taxes and received 1040-ES forms for 2018. I have never paid estimated tax before. Why now?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

I filed my taxes and received 1040-ES forms for 2018. I have never paid estimated tax before. Why now?

I am now retired, but will be getting retirement benefits which are already taxed. If I don't pull anthing out of my IRAs in 2018, I shouldn't have to pay estimated taxes for 2018 I would assume.

1 Best answer

Accepted Solutions
New Member

I filed my taxes and received 1040-ES forms for 2018. I have never paid estimated tax before. Why now?

We'll automatically include 4 quarterly 1040-ES vouchers with your printout if you didn't withhold or pay enough tax this year. We do this to head off a possible underpayment penalty on next year's taxes.

You may get these vouchers if you're self-employed or had an uncharacteristic spike in your income this year. For example, you sold stock or took a large distribution from your retirement plan.

You're not required to make estimated tax payments; we're just suggesting it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

View solution in original post

3 Replies
New Member

I filed my taxes and received 1040-ES forms for 2018. I have never paid estimated tax before. Why now?

We'll automatically include 4 quarterly 1040-ES vouchers with your printout if you didn't withhold or pay enough tax this year. We do this to head off a possible underpayment penalty on next year's taxes.

You may get these vouchers if you're self-employed or had an uncharacteristic spike in your income this year. For example, you sold stock or took a large distribution from your retirement plan.

You're not required to make estimated tax payments; we're just suggesting it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

View solution in original post

New Member

I filed my taxes and received 1040-ES forms for 2018. I have never paid estimated tax before. Why now?

I file estimated payments ONLINE. I DON'T want to print these forms as they are totally useless. I can NOT find a way to remove them so now I have to save a .pdf and manually skip them in the printing. TOTAL waste of my time. Ink and paper costs $$$ so your answer of 'shred them' is not acceptable.
New Member

I filed my taxes and received 1040-ES forms for 2018. I have never paid estimated tax before. Why now?

What if I received the 1040-ES vouchers but neither of those conditions you mention apply?  The only thing different this year for me was I filed jointly w/ my wife.
Dynamic Ads
v
Privacy Settings