Quarterly Tax Computation

[kmcsenior]

I am retired and have a fixed income. I have investments that fluctate greatly. I want to pay my quarterly tax payment based on my current quarterly and current investment income, not based on last year's return. what is the best way to do that? Is there a calculator for that?

[DawnC]

You can go through the Next year's Estimated Taxes section in TurboTax.    If you already filed your return, you will need to click on Add A State at the bottom of the home page to access your return.    You can do this for your federal taxes and your state taxes, if applicable.   It is found near the end of the interview, in the Other Tax Situations >> Other Tax Forms section of TurboTax.   

Estimate next year's federal taxes

Estimate next year's state taxes - like the federal interview, you will find the option at the end of the state interview.