Where do I enter 1040es payments

[MinhT]

You can enter the estimated taxes (form 1040 ES) you paid by following these steps:

• In TurboTax, open your tax return and click in Federal Taxes, then Deductions & Credits
• Under All tax breaks, locate the section named Estimates and Other Taxes Paid and click Show more
• Click on Start next to Estimates (see attached screenshot).

[eggheadwang]

Hi, should we provide the proof to show what we paid the estimate?

[SteamTrain]

@eggheadwang

Just keep copies of your bank or ccd  statements that show the date and amount of each payment....and who paid to, especially if you made both Fed and state estimated payments.  Put in a file folder in case they are needed for a later audit..,,,say 7 years  (opinions vary)

[lgweber90]

What version of Turbotax is this for?

I am a graduate student and I paid estimated quarterly taxes during one quarter of the year during which I was earning a stipend because taxes were not withdrawn.  How do I account for this?

[SteamTrain]

@lgweber90

It's on the Deductions&Credits page for any version of the TurboTax software.
Down in the "Estimates and Other Taxes Paid " section ...just like in the picture shown above.

But you won't see that if your are using the "Brain Dead" Guide Me.  You might need to click on the text to "Skip to see all Tax  Breaks" and then scroll down.   Don't ever use the Guide Me interview process.

[ronnietm]

go to the tab other tax situations under additional tax situations, nanny tax

[LISADEMARCO6425]

The "best" rated answer didn't work. That's only accurate for the prior tax year (eg, 2019)...I'm trying to amend so I can now pay estimated taxes for 2020...impossible so far.

[VictoriaD75]

Estimated taxes are pre-payments of your tax due. Follow these steps to enter these payments:

• From the Federal menu, click on Deductions & Credits
• Expand the menu for Estimates and Other Taxes Paid
• Click Start/Revisit next to Estimated Tax Payments
• Click Start/Revisit next to Federal estimated taxes for 2019 (Form 1040ES)
• Answer YES to Did you pay federal estimated taxes for 2019?
• Enter the payment information on the screen that follows

To avoid a penalty, you need to make estimated tax payments if you expect to owe $1,000 or more in taxes for the year. The tricky part is estimating income and tax liability before the income is earned, especially for self-employed taxpayers.

If you pay 100% of last year's tax liability (line 16 of your 2019 1040), you can avoid penalties. Simply take the amount from your return, divide by four, and make four equal payments.

However, if your adjusted gross income (AGI) was greater than $150,000, that estimate must be 110% of last year's tax liability.

You can also pay 90% of this year's tax liability to avoid penalties. This is more difficult to estimate, as you need to determine what that amount will be.

Estimated Tax Payments

IRS Estimated Taxes

Estimated Taxes: How to Determine What to Pay and When

[LISADEMARCO6425]

No. I'm not trying to report payments already made. I'm trying to pay 2020 estimated taxes... nothing to do with 2019.

[DoninGA]

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@LISADEMARCO6425 wrote:

No. I'm not trying to report payments already made. I'm trying to pay 2020 estimated taxes... nothing to do with 2019.

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Use the IRS payment website to pay 2020 estimated taxes - https://www.irs.gov/payments

[VolvoGirl]

You don't need to amend your 2019 return.  2020 estimates don't affect 2019.

To prepare estimates for next year you start with your current return, but be careful not to change anything.  For Online returns, if you can't get back into your return, Click on Add a State to let you back into your retun.

You can just type W4 in the search box at the top of your return , click on Find. Then Click on Jump To and it will take you to the estimated tax payments section. Say no to changing your W-4 and the next screen will start the estimated taxes section.

Or Go to….

Federal Taxes or Personal (Desktop H&B)

Other Tax Situations

Other Tax Forms

Form W-4 and Estimated Taxes - Click the Start or Update button

Or Here are the blank Estimates and instructions…..

http://www.irs.gov/pub/irs-pdf/f1040es.pdf

The 1040ES quarterly estimates are due April 15, 2020, June 15, Sept 15 and Jan 15, 2021.   The first 2 quarters are not due until July 15 this year.  Your state will also have their own estimate forms.

Or you can pay directly on the IRS website https://www.irs.gov/payments

Be sure to pick the right kind of payment and year.....2020 Estimate

[nathan134]

Tryinf to enter my own amount of ES taxes and dont'have option to show more as stated.  I have TT 2022

[AliciaP1]

The 1040ES forms are the estimated taxes TurboTax calculates you should pay during 2022.  There is no way to override the amount in the system, but if you choose to pay a different amount when you are ready to submit you can manually cross out the amount and change the coupon to the amount you are submitting.

If you are trying to enter the estimated payments you paid during 2021, you need to enter them under the Deductions & Credits section and Estimates and Other Taxes Paid.

@nathan134

[DoninGA]

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@nathan134 wrote:

Tryinf to enter my own amount of ES taxes and dont'have option to show more as stated.  I have TT 2022

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To enter, edit or delete estimated taxes paid (Federal, State, Local) -

• Click on Federal Taxes (Personal using Home and Business)
• Click on Deductions and Credits
• Click on I'll choose what I work on (if shown)
• Scroll down to Estimates and Other Taxes Paid
• On Estimates, click on the start or update button

Or enter estimates paid in the Search box located in the upper right of the program screen. Click on Jump to estimates paid

Or click on Tax Tools on the left side of the online program screen.
Click on Tools
Click on Topic Search
Type in estimated tax payments, click on GO

Federal estimated taxes paid are entered on Form 1040 Line 26