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I made some extra money from my stock options this year. I need to pre-pay some taxes to avoid AMT next year. Can I use TurboTax to pay 2018 Taxes ? How ?

 
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5 Replies
Carl
Level 15

I made some extra money from my stock options this year. I need to pre-pay some taxes to avoid AMT next year. Can I use TurboTax to pay 2018 Taxes ? How ?

No. Just go to <a rel="nofollow" target="_blank" href="http://www.irs.gov/directpay">http://www.irs.gov/directpay</a> and pay it on line. After you pay, make sure you print your receipt and file it with your 2018 records so you'll have it next year when you file the 2018 return.

I made some extra money from my stock options this year. I need to pre-pay some taxes to avoid AMT next year. Can I use TurboTax to pay 2018 Taxes ? How ?

"Pre-paying" taxes - I assume you're talking about making estimated tax payments in addition to withholding - won't affect whether you're subject to AMT or not.

If you want to have TurboTax help you figure out how much estimated taxes to pay in order to avoid being "underpaid" and subject to underpayment penalties, work through the "W-4 and estimated taxes" interview under the "Other Tax Situations" area.
TomK
Expert Alumni

I made some extra money from my stock options this year. I need to pre-pay some taxes to avoid AMT next year. Can I use TurboTax to pay 2018 Taxes ? How ?

How do I make estimated tax payments?  https://ttlc.intuit.com/replies/3301258

Can TurboTax calculate next year's federal estimated taxes?  

https://ttlc.intuit.com/replies/4242911

Carl
Level 15

I made some extra money from my stock options this year. I need to pre-pay some taxes to avoid AMT next year. Can I use TurboTax to pay 2018 Taxes ? How ?

The above may not help, since I don't think figuring 2018 quarterly payments based on 2017 income (where you did not receive any large lump sum payment) will result in sufficient quarterly payment vouchers that will be enough to avoid an underpayment penalty. But work it through anyway, as the program may ask if you expect any large payments in 2018.
But overall, if you send in at least 20% of the payment to the IRS, you should be fine come tax time. If you believe your total AGI for 2018 will be over $100K, then send in 25%. Also, if your state taxes personal income you'll want to do the same with state taxes.

I made some extra money from my stock options this year. I need to pre-pay some taxes to avoid AMT next year. Can I use TurboTax to pay 2018 Taxes ? How ?

Hard to know what "this year" and "next year" are really referring to in the original post.  But if we're talking 2017/2018 then TurboTax "know" exactly what the 2018 estimated taxes need to be because it automatically uses the safest an most reliable "safe harbor" method: 100%/110% of the 2017 tax liability.  It has all it needs to know when you're done with your income tax return to allow you to avoid the underpayment penalty.
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