I underpaid my 2023 California tax by $525 and over paid my Federal tax by $750. TT created 2024 Federal 1040ES vouchers but not 540ES for the State. Why?

[turbineinfo]

I estimate the same income for 2024 as 2023. My wife and I claim 0 exemptions for both federal and state. Since I have over $500. in taxes due to the State, I would have expected TT to generate the 540ES vouchers not the 1040ES when I am getting a Federal refund.

[MonikaK1]

You can choose to prepare new vouchers for 2024 in TurboTax if you want to pay a higher amount quarterly, even if the amount you are already planning to pay is enough to avoid a penalty for 2023. 

You can also plan estimated payments to your state using TurboTax. See this article for details. 

In the California return, you can go to Other Situations, then Other Forms and choose Estimated Taxes. In TurboTax Online, the screen with these choices appears at the end of the interview section just before the review.

For California, generally, you must make estimated tax payments if for 2024 you expect to owe at least:

• $500
• $250 if married/RDP filing separately

And, you expect your withholding and credits to be less than the smaller of one of the following:

• 90% of the current year’s tax
• 100% of the prior year’s tax (including alternative minimum tax)

Pay on time to avoid penalties and fees. You can also use web pay to make your payments.