I got a 1 time ins. payment. I don't want this increased $ to be used to estimate my quarterly payments. How can I edit vouchers to a more accurate $ for this year?

[nansglam]

I received a one time insurance premium maturity payment in 2017.  My quarterly vouchers have almost double my normal estimated payments.  How can I edit the vouchers to remove this additional income so that my estimated payments are more accurate to what I will owe in 2018?

[CathiM · Accepted solution]

You can type estimates paid in the search box at the top of your return and click Find and it will give you a link to Jump To it.

 OR

1. To enter Federal Estimated Tax Payments
2. Under Personal tab at the top
3. Deductions and Credits at the top
4. Then scroll way down to Form W-4 and estimated taxes
5. Answer No on the screen Adjust How Much Tax You Pay
6. Click on Review Now on the screen Review Your Estimates?

This will take you through a long interview with all your income and expenses for 2017 in one column and boxes for you to enter your expected income and expenses for 2018 in 2nd column. You should see your one insurance payment in the 2017 column. Enter $0 in the 2018 column next to it.

If you want to adjust your Estimated Taxes manually:

• Click on Forms at the top right of your screen to go into Forms Mode

• On the left side of your screen, click on Est Tax Options (if it is not there you have to find it by clicking on Open Form above the list