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tluscher
New Member

I need to calculate my 2017 estimated taxes. I already filed by 2016 return. Cannot find where to calculate 2017 estimated taxes once I filed the previous year return.

 
1 Best answer

Accepted Solutions
AnthonyC
Level 7

I need to calculate my 2017 estimated taxes. I already filed by 2016 return. Cannot find where to calculate 2017 estimated taxes once I filed the previous year return.

You can get back into your return to calculate 2017 estimated taxes but you will want to be careful not to change anything besides the estimated tax section.  Here is how -

  • Log into your account (make sure correct username)
  • On the homepage, click the My TurboTax tab and then My Tax Timeline
  • Scroll down to the section below your 2016 return entitled "Some Other Things you Can Do"
  • Click "Add a State"
  • This will allow you back into your return without amending (you don't need to actually add a state)
  • This should bring you to a new homepage welcome screen
  • Click Federal taxes > Other Tax Situations > Other Tax Forms > Form W4 and Estimated Taxes (or use the search feature and search for "W4" and click the jump to link).
  • Follow the prompts and you will be asked a series of questions.  The program will base the estimated payments off this years return, but if you anticipate having more income next year or if there will be other life changes (i.e you won't be able to claim a dependent anymore), then you can make those adjustments.  Pay close attention to all the screens in this section because if you leave out an item, i.e. other taxes you have withheld from any W2 jobs you will have in 2017, it can make a big difference on your estimated tax payments.
  • After you have made the adjustments, if you are not prompted to print out fresh ES forms, then go to My Account > Print Center.  Follow the prompts to download a new pdf and you can select the 1040 ES forms for printing.
After this, you will have four quarterly vouchers that you can use to submit estimated tax payments.  Also, these vouchers are for your convenience, you can make the payments directly online (make sure you indicate they are for 2017 ES payments) and you can adjust the amount of the payment (higher or lower) during the year depending on anticipated income. 

You can also get these vouchers directly from the IRS and make the payments if you ever lose the vouchers TurboTax prints up or you decide to change the amount.

https://www.irs.gov/pub/irs-pdf/f1040es.pdf  (payment vouchers are on pages 9-11)

https://www.irs.gov/payments

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1 Reply
AnthonyC
Level 7

I need to calculate my 2017 estimated taxes. I already filed by 2016 return. Cannot find where to calculate 2017 estimated taxes once I filed the previous year return.

You can get back into your return to calculate 2017 estimated taxes but you will want to be careful not to change anything besides the estimated tax section.  Here is how -

  • Log into your account (make sure correct username)
  • On the homepage, click the My TurboTax tab and then My Tax Timeline
  • Scroll down to the section below your 2016 return entitled "Some Other Things you Can Do"
  • Click "Add a State"
  • This will allow you back into your return without amending (you don't need to actually add a state)
  • This should bring you to a new homepage welcome screen
  • Click Federal taxes > Other Tax Situations > Other Tax Forms > Form W4 and Estimated Taxes (or use the search feature and search for "W4" and click the jump to link).
  • Follow the prompts and you will be asked a series of questions.  The program will base the estimated payments off this years return, but if you anticipate having more income next year or if there will be other life changes (i.e you won't be able to claim a dependent anymore), then you can make those adjustments.  Pay close attention to all the screens in this section because if you leave out an item, i.e. other taxes you have withheld from any W2 jobs you will have in 2017, it can make a big difference on your estimated tax payments.
  • After you have made the adjustments, if you are not prompted to print out fresh ES forms, then go to My Account > Print Center.  Follow the prompts to download a new pdf and you can select the 1040 ES forms for printing.
After this, you will have four quarterly vouchers that you can use to submit estimated tax payments.  Also, these vouchers are for your convenience, you can make the payments directly online (make sure you indicate they are for 2017 ES payments) and you can adjust the amount of the payment (higher or lower) during the year depending on anticipated income. 

You can also get these vouchers directly from the IRS and make the payments if you ever lose the vouchers TurboTax prints up or you decide to change the amount.

https://www.irs.gov/pub/irs-pdf/f1040es.pdf  (payment vouchers are on pages 9-11)

https://www.irs.gov/payments

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