Questions related to 4th Quarter Estimated Tax Payment

[VAer]

Just making an example: if I make 4th quarter estimated tax payment(for both federal and state) in January 2020.

1) Will 4th quarter federal estimated tax payment be counted in 2019 federal tax return? I think it is true, but would like to confirm.

2) Will 4th quarter state estimated tax payment be counted in 2020 IRS Schedule A or 2019 IRS Schedule A?

3) Will 4th quarter state estimated tax payment be counted in 2019 state tax return?

4) Can I make 4th quarter estimated tax payment (for federal and state) in December 2019? Instead of January 2020.

Thanks.

[VolvoGirl · Accepted solution]

#1 Yes, it is a 2019 payment.

#2 A state 4 qtr estimate in Jan 2020 would go on your 2020 schedule A next year.  So I always pay the state in December.

#3 Yes same as #1.  It is a 2019 estimated payment.

#4 Yes you can pay in December or anytime.

[Anonymous]

as to paying the forth quarter state estimate in December.  1) you have to be able to itemize otherwise paying early produces no federal tax benefit. 2) you tax deduction on schedule A for all other taxes (including previous state estimates and any balnce due for the prior year paid in the current year must be less than $10,000 ($5,000 married filing separate) otherwise again you get no federal tax benefit becuase under current tax law that's the limit for schedule A taxes.