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New Member

Will Turbo Tax help with my 2020 Quarterly Estimated Tax?

 
4 Replies
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Level 15

Will Turbo Tax help with my 2020 Quarterly Estimated Tax?

You must make quarterly estimated tax payments for the current tax year if both of the following apply:

- 1. You expect to owe at least $1,000 in tax for the current tax year, after subtracting your withholding and credits.

 

- 2. You expect your withholding and credits to be less than the smaller of:

    90% of the tax to be shown on your current year’s tax return, or

  100% of the tax shown on your prior year’s tax return. (Your prior year tax return must cover all 12 months).

 

Turbo Tax will calculate the 1040ES estimated payments

https://ttlc.intuit.com/community/tax-payments/help/can-turbotax-calculate-next-year-s-federal-estim...

 

To prepare estimates for next year you start with your current return, but be careful not to change anything.  For Online returns, if you can't get back into your return, Click on Add a State to let you back into your retun.

 

You can just type W4 in the search box at the top of your return , click on Find. Then Click on Jump To and it will take you to the estimated tax payments section. Say no to changing your W-4 and the next screen will start the estimated taxes section.

 

Or Go to….

Federal Taxes or Personal (Desktop H&B)

Other Tax Situations

Other Tax Forms

Form W-4 and Estimated Taxes - Click the Start or Update button

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New Member

Will Turbo Tax help with my 2020 Quarterly Estimated Tax?

Where can I find the forms and how much my estimated tax are for 2020?

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Returning Member

Will Turbo Tax help with my 2020 Quarterly Estimated Tax?

How do I request Turbo Tax's help with my quarterly estimated tax payments for 2020 

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Employee Tax Expert

Will Turbo Tax help with my 2020 Quarterly Estimated Tax?

When you prepare your 2019 return, we'll automatically calculate your 2020 estimated tax payments and prepare 1040-ES vouchers if we think you may be at risk for an underpayment penalty next year.

 

You can also calculate your 2020 estimated taxes and generate the payment vouchers by doing this:

  1. With your tax return open, search for 1040-es (be sure to include the dash) and select the Jump to link.
  2. Answer No to the question Do you want to change your W-4 withholdings for 2020?
  3. Answer the questions about things like your 2020 filing status, income, and deductions.
  4. Eventually, you'll come to the Print Vouchers? screen. Answer Yes and we'll include your 2020 1040-ES payment vouchers when you print a copy of your return later.

TurboTax uses the most recent info when calculating your 2020 estimated taxes.

Related Information:

@Ann Craft 

@fmgarison   

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