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Kenb9
New Member

I owed $2400 for 2018. Turbotax calculated $1132/quarter for me to pay in estimated tax in 2019. If I adjust my withholdings do I still need to pay that much?

 
3 Replies
KatrinaB
Intuit Alumni

I owed $2400 for 2018. Turbotax calculated $1132/quarter for me to pay in estimated tax in 2019. If I adjust my withholdings do I still need to pay that much?

No, if you adjust your withholding you can lower the amount of estimated tax you are required to pay. 

Kenb9
New Member

I owed $2400 for 2018. Turbotax calculated $1132/quarter for me to pay in estimated tax in 2019. If I adjust my withholdings do I still need to pay that much?

Dumb question. Does the extra withholding and what I pay quarterly still need to add up to $4528? Why is it so high in the first place?
KatrinaB
Intuit Alumni

I owed $2400 for 2018. Turbotax calculated $1132/quarter for me to pay in estimated tax in 2019. If I adjust my withholdings do I still need to pay that much?

Your estimated tax payments for 2019 should be calculated based on your anticipated income. If they are too high then you should adjust the calculation.
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