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itmanager868
New Member

What is the difference between "State Estimated taxes for 2016" and "2015 state estimated taxes paid in 2016".

We paid a one time estimated tax of 1000$ in April of 2015 for 2015 taxes. We paid a one time estimated tax of 2008$  in April of 2016 for the 2016 tax year.  (Don't like paying quarterly)  If I read correctly my input to the turbotax questions would be $2008 for state est. taxes for 2016 and 0$ for 2015 state est. taxes paid in 2016.   If so, WHY do the Federal taxes increase 506$ (inputting 0 from inputting $2008)

1 Reply
CalCountry
Level 6

What is the difference between "State Estimated taxes for 2016" and "2015 state estimated taxes paid in 2016".

When preparing a 2016 tax return, it is possible (but not in your case) that a taxpayer paid the last 2015 estimated payment in January of 2016.  Since you make your estimated tax payments within the calendar year, you would only have state estimated taxes for 2016, and not 2015 estimated taxes paid in 2016.

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