Setup Custom Specific Estimated Tax Payments

[ianceicys]

My wife and I have previously used an accountant that setup 4 estimated tax payments each being $2,500. We want to do the same for 2021, as it ensures that we always are ensured that the full amount of our taxes are paid, and every year we get to have a nice sizeable return instead of owing money.

I've gone through the interview questions and Turbo Tax is calculating our estimated tax payments for 2021 to be $300.00 which while nice, isn't what I want. I want to have the vouchers be setup for $2,500.

Is there a way to override the interview and setup the vouches to be a specific amount, say $2,500?

[DMarkM1 · Accepted solution]

In TurboTax online you have two options arbitrarily increase your income to get the vouchers up to 2500 each or have them print as they are and write in the amount you want to put on there.  

In TurboTax Desktop versions you can adjust the 1040ES quarterly forms to any amount you wish in the forms view.

[kbor2]

I am trying to set up estimated taxes for 2021. This year I did not take the RMD as the Fed allowed us to skip this year. I know my RMD amt. for next year but find no place in the turbo tax system to express this and get suggested estimated tax payment schedule.

[Cynthiad66]

At the end of your state return, we’ll ask if you want to make estimated tax payments and help you calculate the amount.

We'll even generate the payment vouchers for you to print along with your return.

Related Information:

• Can TurboTax calculate next year's federal estimated taxes?
• Do I need to make estimated tax payments to the IRS?
• How do I make estimated tax payments?

[deanadk]

When I bring up form 1040-ES Individual Estimated Tax Voucher it will not let me change the amount of payment.  I have varying income throughout 2024 so each quarter estimated taxes will be different.  Why doesn't TT give me the option to have varying income instead of assuming one flat amount divided by four quarters.  I did the 2210 annualized however the vouchers for 2024 still printed with the flat amount divided by four based on my 2023 taxes.  

[AmyC]

People used to complain it was too complicated. Clearly, you understand the payments required with the income and how the vouchers work. The IRS prefers online payments that can be made here. If you like to mail paper forms, you can cross off the amount listed or send a new Form 1040-ES

Reference: Estimated taxes | Internal Revenue Service

@deanadk 

[VolvoGirl]

@deanadk   Are you using the Online version or the Desktop program?  I know in the Desktop program you can switch to Forms mode to change them or even print the ES forms without an amount so you can write it in.  I do.

[deanadk1]

I have Home and Business desktop.  I tried many, many, many times to change the amount in Forms.  It will not let me.  I’ve used TT for years and always have ridiculous problems like this. They don’t make anything easy.

I do appreciate you trying to help though!

[VolvoGirl]

Are you on Windows or Mac?  I have windows Home & Business.  You can open the individual 1040ES forms and override the amounts on them.