turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

brm020689
New Member

I'm not understanding why I'm asked to pay estimated taxes

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
AnnetteB
Intuit Alumni

I'm not understanding why I'm asked to pay estimated taxes

If you are being prompted to pay estimated taxes for your 2018 return, then that usually means that something in your 2017 tax return indicated that your tax situation would benefit from doing so.  Be aware that even if you are prompted to make estimated payments for 2018, there is nothing reported about this to the IRS when you file your 2017 return and it is your choice whether to make the payments or not. 

Take a look at the TurboTax article below for more information about when estimated taxes are appropriate. 

https://ttlc.intuit.com/replies/3301891





I'm not understanding why I'm asked to pay estimated taxes

We ran into this exact same problem with Turbotax yesterday! My daughter's college already reduced the educational expenses paid (Box 1 on the 1098T) by the amount of her scholarship (Box 5). Our tax liability drastically increased because of this issue.  A number of experts on line have stated that if the distributions were 100% used for qualified educational expenses, you don't have to report anything on your tax return. You can just leave it off. That's what we are going to do. Many of our friends have said the same thing. I really think Turbotax needs to ask this question in their program before having you enter the information from the 1099Q and the 1098T!

 

I'm not understanding why I'm asked to pay estimated taxes

My post above replied to the wrong topic. I copied and pasted it into a reply for the correct topic. (Apologies.)

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies