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Level 1
posted Mar 27, 2024 1:57:11 PM

Turbo tax website for how to estimate 2024 quarterly taxes asks you to open form 1040-es while you have turbo tax open. using turbo tax deluxe-that 1040-es doesn't exist

Any suggestions.  I retired March 1 and need to pay quarterly taxes but need to estimate my earnings which will be different from last year.

0 2 764
2 Replies
Expert Alumni
Mar 27, 2024 2:04:15 PM

Yes, you can generate estimated payments from TurboTax. Here's how to do that in TurboTax Online:

 

 

  1. Sign in to your TurboTax account.
  2. If you already filed your return, select Add State to get back into your return.
  3. Select Other Tax Situations.
  4. Expand Other Tax Forms and find Form W-4 and Estimated Taxes, select Start or Revisit to the right.
  5. Answer No to the question Do you want to change your W-4 withholdings for 2024?
  6. Select Review Now on the next screen.
  7. Answer the questions about your 2024 filing status, expected income, and deductions.
  8. On the screen titled, Which Method? Select one of the 2024 options, not the first option.
  9. When you come to the Print Vouchers? screen, answer Yes and the program will include your 2024 1040-ES payment vouchers when you print a copy of your return.

     

Level 2
Mar 27, 2024 2:13:53 PM

I pay the safe harbor amount (100% of last year's tax or 110%  for AGI) >150k joint returns) in 4 equal amounts.   That's how I avoid this IRS trap.

https://turbotax.intuit.com/tax-tips/small-business-taxes/estimated-taxes-how-to-determine-what-to-pay-and-when/L3OPIbJNw