Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Apr 18, 2024 12:20:02 AM

My income varies quarter to quarter. I fill out form 2210 and Schedule AI during the year to determine my quarterly tax payments. Can TurboTax do this for me?

0 2 21170
1 Best answer
Expert Alumni
Apr 18, 2024 6:37:21 AM

No. TurboTax is an end-of-year program and so it works with full-year totals or estimates for the full-year.  For example, in the "Other Tax Situations" section you can use the "Estimate Taxes" topic to estimate your taxes for the next year and create vouchers for the quarterly payments.  However, the result will be generally four equal installment amounts for the total year's taxes.  

 

However, another Intuit product, Quickbooks, does work quarterly tax estimates during the tax year.  Here is a link with more details. 

2 Replies
Expert Alumni
Apr 18, 2024 6:37:21 AM

No. TurboTax is an end-of-year program and so it works with full-year totals or estimates for the full-year.  For example, in the "Other Tax Situations" section you can use the "Estimate Taxes" topic to estimate your taxes for the next year and create vouchers for the quarterly payments.  However, the result will be generally four equal installment amounts for the total year's taxes.  

 

However, another Intuit product, Quickbooks, does work quarterly tax estimates during the tax year.  Here is a link with more details. 

Level 1
Apr 21, 2024 1:51:49 AM

Thank you for your answer. I’ve been doing it myself manually with a pencil, and I was attempting to make a spreadsheet to help me, but your suggestion of QuickBooks is the solution. Thank you so much for taking the time to answer my question. It is really appreciated.