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null428
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I have paid estimated payments to both federal and colorado for 2020 form 1040 how to put that into turbo tax

 
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5 Replies
DavidD66
Employee Tax Expert

I have paid estimated payments to both federal and colorado for 2020 form 1040 how to put that into turbo tax

Making estimated tax payments is a great way to avoid paying penalties for underpayment of taxes.  To enter your estimated tax payments for 2020, while logged in to your return:

  • Click on Search
  • Type "Estimated Tax Payments" and hit Enter
  • Click on Go to Estimated Tax Payments
  • Scroll down to "2019 Refund Applied to 2020"
  • Select the type of estimated payment made (Federal Estimated taxes for 20XX)
  • Click Start (or Revisit)
  • Mark the Yes button to answer the question "Did you pay federal estimated taxes for 20XX?"
  • Enter you payments and adjust the dates as necessary
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I have paid estimated payments to both federal and colorado for 2020 form 1040 how to put that into turbo tax

You can type estimates paid in the search box at the top of your return and click Find and it will give you a link to Jump To it.

 

OR

To enter Federal or State Estimated Taxes Paid, including a state estimated payment made in January for the prior year, go to

Federal on left or at top.  Personal (Home & Business)

Deductions and Credits at top

Then scroll way down to Estimates and Other Taxes Paid

Estimated Taxes - click the start button

 

For 2020 Federal Estimated payments should be on 1040 line 26.

 

You enter state estimated payments under the federal side (because they can be a federal itemized Deduction).  THEN after you finish filling out the estimates under Federal you need to click on the State Tab at the top and start the state return over for it to update.

 

You have to pick the right state from the drop down box and enter the right payment dates.

I have paid estimated payments to both federal and colorado for 2020 form 1040 how to put that into turbo tax

@DavidD66   Estimates are not 2019 Refund Applied to 2020

I have paid estimated payments to both federal and colorado for 2020 form 1040 how to put that into turbo tax

Colorado tax from 140

JohnB5677
Employee Tax Expert

I have paid estimated payments to both federal and colorado for 2020 form 1040 how to put that into turbo tax

Are you trying to account for taxes that you've paid to Colorado?

 

To post estimated taxes that you've already paid:

  • Start at Deductions & Credits
  • Scroll down to Estimates and other taxes
  • Select Estimated Tax Payments
  • There is a list here of various Estimated taxes that you may have paid.
  • Select State estimated taxes for 2020 (Form 1040ES)
  • Did you pay federal estimated taxes for 2020? - Yes

 

 

@Lester49

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