Turbo Tax prints out estimated tax vouchers for every tax return if you did not have enough withheld in the current tax year. Many things can affect your taxes (life changes such as marriage, divorce, change in job, eligibility for certain tax credits etc.) and every circumstance can not be anticipated.
TurboTax bases the need for estimated quarterly taxes on your current tax year.
They automatically include four quarterly 1040-ES vouchers with your printout if you didn't withhold or pay enough tax this year. TurboTax does this to head off a possible underpayment penalty on next year's taxes. You may get these vouchers if you're self-employed or had an uncharacteristic spike in your income this year.
You can print next year's estimated tax vouchers (Form 1040-ES) in your 2022 program:
- Sign in to your TurboTax account, then open your return by selecting Continue or Pick up where you left off in the progress tracker
- When your return is open, search for 1040-es (be sure to include the hyphen) and select the Jump to link in the search results
- Answer No to the question Do you want to change your W-4 withholdings for 2023?
- Answer the questions about things like your 2023 filing status, income, and deductions
- Eventually, you'll come to the Print Vouchers? screen. Answer Yes and we'll include your 2023 1040-ES payment vouchers when you print a copy of your return later
- If you get the No Payments screen instead, you don't need to make 2023 estimated payments based on what you entered
- To check that the forms were added to your return, you can go to Tax Tools in the left menu, then Tools. In the pop-up, select Delete a Form. From here, you should see Form 1040-ES in the list of forms included with your return. You won't actually delete it, but this allows you to confirm it's there
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