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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?

 
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Accepted Solutions
DMarkM1
Expert Alumni

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?

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. 

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2 Replies
DMarkM1
Expert Alumni

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?

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. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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?

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.

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