My wife paid $2000 towards her income in 2018 on January 1, 2019. How do we account for that payment when completing 2018 taxes?

My wife already paid $2,000.00 to the irs on jan 1, 2019. how do we account for that when completing turbotax? Do we pay the amount owed and receive a refund, or is there a section for "taxes already paid". she is self-employed.

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1 Best answer

Expert Alumni

Jun 3, 2019 4:37:51 PM

This payment is for federal estimated taxes.

You can enter estimated taxes you paid by following these steps:

In TurboTax, open your tax return
Click on Federal in the left-hand column, then Deductions & Credits on top of the screen
Scroll down to All tax breaks, locate the section named Estimates and Other Taxes Paid and click Show more
Click on Start next to Estimated Tax Payments
On the next page, click Start next to Federal estimated taxes for 2018 (form 1040ES) (see attached screenshot)

Expert Alumni

Jun 3, 2019 4:37:51 PM

This payment is for federal estimated taxes.

You can enter estimated taxes you paid by following these steps:

In TurboTax, open your tax return
Click on Federal in the left-hand column, then Deductions & Credits on top of the screen
Scroll down to All tax breaks, locate the section named Estimates and Other Taxes Paid and click Show more
Click on Start next to Estimated Tax Payments
On the next page, click Start next to Federal estimated taxes for 2018 (form 1040ES) (see attached screenshot)

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My wife paid $2000 towards her income in 2018 on January 1, 2019. How do we account for that payment when completing 2018 taxes?