I received $40,000 in unemployment from January - March of 2021
Do I need to make estimated tax payments?
When and how should I do this?
Please help me to get started, or point in the right direction.
Thank you.
You'll need to sign in or create an account to connect with an expert.
Hi @jayyrayy I am including a link to a TurboTax calculator that will help you calculate or get an idea of what you would need to make as an estimated payment. Hopefully this will help you get started 🙂
https://turbotax.intuit.com/tax-tools/calculators/taxcaster/
IRS link for the Tax estimator
https://www.irs.gov/individuals/tax-withholding-estimator
Thanks for the info @Michele_H I want to avoid a penalty. Do I need to make a payment now?
If you do need to make an estimated payment for the remainder of 2020. Those would be due by Sept 15 and January 15 of 2022.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
davegoldfarb
New Member
KarenL
Employee Tax Expert
skibum11
Returning Member
mallika-bachan
Level 2
Embers
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.