I want to pay quarterly estimated taxes to avoid underpayment of taxes on investment gains and dividends. Is there a calculator for that

[MayaD · Accepted solution]

If you’re at risk for an underpayment penalty next year, TurboTax will automatically calculate quarterly estimated tax payments and prepare vouchers (Form 1040-ES) for you to print. 

However, if TurboTax didn't include any estimated payments based on your 2023 information, you can revisit that section to add the capital gain you are expecting to receive and calculate the quarterly payments.

1. Go to Other Tax Situation.
2. Scroll down to Form W-4 and Estimated Taxes and click Start.
3. On the following screen select No to the question Do you want to change your W-4 withholdings for 2024?
4. On the following screen Select Review now. 
5. Continue until you get to the screen Enter Investment Gains and Losses. Enter 2024 amount and continue.
6. TurboTax will calculate the estimated Payments if you need to make some.