Turbo Tax does assist in
calculation and preparation of Estimated Tax Payments. While the estimated
payments are based on your 2015 tax return, you may adjust your income and
deductions to properly reflect 2016 tax situation.
Once your 2015 tax return is
prepared, please visit:
1.
Federal Taxes
Tab (please see attached picture)
2.
Other Tax
Situations tab
3.
Other Tax Forms,
select Form W-4 and Estimated Taxes
At this point, Turbo Tax will ask a series of questions. The
first question is in regards to form W4 withholdings. If form W-4 is no longer
applicable, select ‘No’ and continue.
Turbo Tax originally calculates estimated taxes based on
your 2015 information. Since your 2016
information is different, please make sure that you make adjustments to your income and deductions so that Turbo Tax
can recalculate your estimated payments for 2016. Otherwise, the estimates will not be accurate
and you will under or overpay. To do so, please answer “Yes” to “Do you want to
adjust your income and deductions?” and continue through the questions.
Once you are done, you will be able to print the estimated vouchers.
