Quarterly payments

[motoboy5207]

I am self employed and my wife works full time. I always use turbo tax home and business. I am getting to the point where I may need to do estimated quarterly tax payments. My question is that once I start making them and then find out it wasn't really needed can I stop doing them in the next year or am I stuck making them once I start?

[bluedeb · Accepted solution]

You can stop estimated tax payments anytime.  If your situation changes you do not have to make the estimated quarterly payments. 

[pjglace]

Thank you.

[Carroll Price]

I can't find the space for recording quarterly tax that i paid.

[DoninGA]

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@Carroll Price wrote:

I can't find the space for recording quarterly tax that i paid.

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To enter, edit or delete estimated taxes paid (Federal, State, Local) -

• Click on Federal Taxes (Personal using Home and Business)
• Click on Deductions and Credits
• Click on I'll choose what I work on (if shown)
• Scroll down to Estimates and Other Taxes Paid
• On Estimates, click on the start or update button

Or enter estimates paid in the Search box located in the upper right of the online program screen. Click on Jump to estimates paid

Or click on Tax Tools on the left side of the screen.
Click on Tools
Click on Topic Search
Type in estimated tax payments, click on GO

Federal estimated taxes paid are entered on Form 1040 Schedule 3 Line 8. The totals for Schedule 3 flow to Form 1040 Line 18d

[BillM223]

@Carroll Price

Do a Search for estimated taxes paid, and click on the jump-to link.

Note that you will be able to enter both federal and state estimated taxes here