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New Member
posted Apr 18, 2023 7:46:30 AM

Should I pay the 1040-es form attached to my return prepared with turbotax? I do not understand why I have such a form.

Our income was from our W2 employments, except for some capital gains for this year. I do not understand why we would have to file such forms. Is this something that we can ignore?

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2 Replies
Level 15
Apr 18, 2023 7:48:43 AM

Yes, you can ignore the Form 1040-ES if you do not plan to pay any estimated taxes in 2023.

Level 15
Apr 18, 2023 7:50:28 AM

Those 1040ES vouchers are optional to use for making quarterly estimated payments for tax year 2023.  If you expect to owe at least $1000 at tax time next year then using them can help you avoid an underpayment penalty and a big tax bill to pay all at once.  But you are not required to use them... if you do not want to, then discard them.