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Level 1
posted Apr 12, 2021 7:07:32 PM

I found a bug in turbotax Premium CD. The amount due is different as compared to the 4 vouchers lists. I owe 5326 but the vouchers say 2098 each. What do i do?

Here is the details on the vouchers
Voucher 1 due on  04/15/2021 for $ 2,098.00
Voucher 2 due on  06/15/2021 for $ 2,098.00
Voucher 3 due on  09/15/2021 for $ 2,098.00
Voucher 4 due on  01/18/2022 for $ 2,098.00

Total due DOES NOT EQUAL sum of VOUCHERS.

0 3 713
1 Best answer
Level 15
Apr 12, 2021 7:10:30 PM

Those are not for your tax due.  They are 1040 ES Estimates.  

The 1040ES are estimates for next year. The 1040ES quarterly estimated tax payments DO NOT get sent to the IRS or state with your return. They are optional to pay. Turbo Tax is very conservative and doesn't want you to owe too much next year. They might have printed out if you got a one time large income this year. Like if you took a IRA or 401K distribution. You can ignore them. You might want to adjust your withholding at work so you won't owe too much next year.

3 Replies
Level 15
Apr 12, 2021 7:10:30 PM

Those are not for your tax due.  They are 1040 ES Estimates.  

The 1040ES are estimates for next year. The 1040ES quarterly estimated tax payments DO NOT get sent to the IRS or state with your return. They are optional to pay. Turbo Tax is very conservative and doesn't want you to owe too much next year. They might have printed out if you got a one time large income this year. Like if you took a IRA or 401K distribution. You can ignore them. You might want to adjust your withholding at work so you won't owe too much next year.

Level 15
Apr 12, 2021 7:13:33 PM

And you can't pay your tax due in 4 payments.  You should have one 1040 V voucher to pay the tax due.  Or you entered your bank info to have the IRS debit your bank account.

 

How to pay a federal tax due

https://ttlc.intuit.com/community/tax-payments/help/how-can-i-pay-my-federal-taxes/00/26212

Level 1
Apr 15, 2021 4:48:31 PM

Hi Volvo Girl

Thanks for the reply. Yeah I totally misread those vouchers.  They were indeed for estimated tax payments lol.  THis was the first time that TurboTax every showed me these vouchers so I had no idea what I was looking at.