If I choose to withhold extra taxes out of my employment paycheck. Is that considered estimated tax payments?

[brncgreen]

I only choose 50 a check for about half the year. I estimate maybe 400-600 extra. Is it even worth the trouble of adding it

[Opus 17]

No, it's not an estimated payment.  Anything extra you had withheld using form W-4 will be recorded on your W-2 in box 2.  

It's important that "extra" on a W-4 only means more than the default W-4 calculation.  All your withholding is recorded on your W-2 and you never enter the "extra" separately.  Estimated payments are separate payments you made directly to the IRS on their web site or by mailing a check. 

[xmasbaby0]

No----having extra money withheld from your paychecks is not the same as making estimated payments.  If you have "extra" tax withheld by your employer, that just ends up in boxes 2 and (maybe) box 17 of your W-2.   It gets entered on your tax return when you enter the boxes of your W-2.  You do not have to do anything "special" for this --- just enter your W-2 as it appears.

[brncgreen]

If I'm understanding correctly. I won't need to enter it because it is automatically added to my income tax paid per check? 

[brncgreen]

I usually file my taxes using my last paystub of the year just to avoid the extra 2 week wait for them to issue a w-2. I wanted to verify if I did it off the paystub I wouldn't be missing that amount. If it's already totalled on my paystubs into the federal tax then it will still work. If not I'll have to wait

[xmasbaby0 · Accepted solution]

@brncgreen Exactly.   You will just enter your W-2.   The "extra" tax that was withheld will already be in box 2 for federal, and maybe in box 17 for your state if you had extra state tax withheld.  Nothing special for you to enter.

[brncgreen]

Cheers 

[DoninGA]

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@brncgreen wrote:

If I'm understanding correctly. I won't need to enter it because it is automatically added to my income tax paid per check? 

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Correct.

For next year, on the 2024 W-2, the extra amount will be included in box 2 of the W-2.  You report W-2 on your 2024 tax return as received from your employer.

[xmasbaby0]

Stop.  Do NOT try to file using a paystub.   Paystubs and W-2's do not match.  And.....there is no rush to file.  The IRS will not begin to accept/reject e-files until January 29.

Do not file a tax return without ALL of your income documents; you must include every 2023 W-2 on the same tax return.  Employers have until the end of January to issue W-2’s.   Wait until you have all of your W-2’s.  Clients, schools, Social Security, healthcare.gov, banks, mortgage lenders, and other financial institutions may not have tax documents available until late January/early February.  ALL of your tax documents must be entered on the same Form 1040; do not file unless you have entered everything.

[Opus 17]

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@brncgreen wrote:

If I'm understanding correctly. I won't need to enter it because it is automatically added to my income tax paid per check? 

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Yes, whatever is shown on your paystub is your total federal withholding (the default calculation plus any extra you asked for).  However, there are a number of bad things that can happen from filing with a pay stub, that can take 9 months to fix.  Please wait for your W-2.