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New Member
posted Oct 23, 2021 8:24:25 AM

Is there a way to estimate 2021 taxes now and do "what if" scenarios?

I will have large depreciation recapture taxes this year and want to see the effect of charitable
donations.

0 3 690
3 Replies
Level 15
Oct 23, 2021 8:44:50 AM

You can try using the TurboTax calculator TaxCaster for estimating tax liabilities or tax refunds - https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

Level 15
Oct 23, 2021 9:23:28 AM

Whatever you do---do NOT mess with your 2020 return if you used online TT.   Online TurboTax does not include the "what if" feature that is a feature of only the CD/download software.   If you used the CD/download for 2020 you can use the what if feature in that program.

Level 15
Oct 23, 2021 11:27:34 AM

This tool is not the same as an actual return, but can be useful for estimates.  It's still set up for 2020, but that will only make a few dollars difference:

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/