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voyger3025
Returning Member

Why did Turbo Tax provide Estimated payments for next year when I get a refund this year?

 
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4 Replies
HelenC12
Expert Alumni

Why did Turbo Tax provide Estimated payments for next year when I get a refund this year?

You may get these vouchers if you're self-employed or had an uncharacteristic spike in your income this year. For example, you sold stock or took a large distribution from your retirement plan.

 

You're not required to make estimated tax payments; we're just suggesting it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

 

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voyger3025
Returning Member

Why did Turbo Tax provide Estimated payments for next year when I get a refund this year?

Thanks for the reply.  I was hoping that was it.  BUT,  why doesn't Turbo Tax say that in the instructions so I don't have to spend the morning trying to learn that???

 

Thanks

sfalke
New Member

Why did Turbo Tax provide Estimated payments for next year when I get a refund this year?

I agree.  This makes little sense to print vouchers when not necessary.  

AmyC
Expert Alumni

Why did Turbo Tax provide Estimated payments for next year when I get a refund this year?

Next time, choose to suppress the estimated payment vouchers. If you do have a spike in income and need to make an estimated payment, you can pay the IRS directly. When making your payment, you can select estimated payment.

@sfalke 

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