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New Member
posted Feb 19, 2024 5:13:28 PM

Where do I find out in turbo tax what I should pay in estimated tax submittals

I submitted more estimated tax  money for 2023 than my 2022 tax return  called for. Why is my2023 tax preparation indicating a $34.00 shortage?

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2 Replies
Level 15
Feb 20, 2024 7:57:04 AM

A great way to find out what happened is to make a line by line comparison of this return and the prior one(s).

Expert Alumni
Feb 21, 2024 10:50:30 AM

Even though you paid in more tax this year than the previous year, your income may have increased and that can cause your tax to increase by more than the increase in your estimated tax payments. That would explain why you still owe taxes this year.

 

You can visit the Other Tax Situations section in TurboTax, then Other Tax Forms then Form W-4 and Estimated taxes to determine how much estimated taxes to pay in.