Solved: If my husband and I were hired as freelancers in January 2018, do we file estimated quarterly taxes starting April 2018 and where do we attach payments?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

If my husband and I were hired as freelancers in January 2018, do we file estimated quarterly taxes starting April 2018 and where do we attach payments?

 
1 Best answer

Accepted Solutions
New Member

If my husband and I were hired as freelancers in January 2018, do we file estimated quarterly taxes starting April 2018 and where do we attach payments?

You can print next year's estimated tax vouchers (Form 1040-ES) in your 2017 program and file in April.

  1. When in your account, select the Take me to my return button on the main screen.
  2. Search for 1040-es (exact phrase) in your program's search box, located in the upper right corner.
  3. Select the Jump to 1040-es link in the search results.
  4. Answer No to the W-4 withholding question to start the estimated payment calculations interview.
    • You'll be asked a series of questions about your 2018 income. Answer them as best you can.
  5. When you get to the Print Vouchers? screen, answer Yes. They'll print with your federal return.
  • If you get the No Payments screen instead, you don't need to make 2018 estimated payments based on what you entered.

We'll automatically include 4 quarterly 1040-ES vouchers with your printout if you didn't withhold or pay enough tax this year. We do this to head off a possible underpayment penalty on next year's taxes.

You may get these vouchers if you're self-employed or had an uncharacteristic spike in your income this year. For example, you sold stock or took a large distribution from your retirement plan.

You're not required to make estimated tax payments; we're just suggesting it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

The vouchers will tell you when and where to file.

View solution in original post

1 Reply
New Member

If my husband and I were hired as freelancers in January 2018, do we file estimated quarterly taxes starting April 2018 and where do we attach payments?

You can print next year's estimated tax vouchers (Form 1040-ES) in your 2017 program and file in April.

  1. When in your account, select the Take me to my return button on the main screen.
  2. Search for 1040-es (exact phrase) in your program's search box, located in the upper right corner.
  3. Select the Jump to 1040-es link in the search results.
  4. Answer No to the W-4 withholding question to start the estimated payment calculations interview.
    • You'll be asked a series of questions about your 2018 income. Answer them as best you can.
  5. When you get to the Print Vouchers? screen, answer Yes. They'll print with your federal return.
  • If you get the No Payments screen instead, you don't need to make 2018 estimated payments based on what you entered.

We'll automatically include 4 quarterly 1040-ES vouchers with your printout if you didn't withhold or pay enough tax this year. We do this to head off a possible underpayment penalty on next year's taxes.

You may get these vouchers if you're self-employed or had an uncharacteristic spike in your income this year. For example, you sold stock or took a large distribution from your retirement plan.

You're not required to make estimated tax payments; we're just suggesting it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

The vouchers will tell you when and where to file.

View solution in original post

Dynamic Ads
v
Privacy Settings