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You can make one or more estimated tax payments for 2018 by following the instructions in the TurboTax FAQs below:
If taxes aren’t withheld from the income you receive, making quarterly estimated tax payments can help you avoid paying a big tax bill or an underpayment penalty in April.
You’re Self-EmployedWhen you’re self-employed, federal, state, and Social Security taxes aren’t taken out of the income you receive.
Instead of paying the entire amount you owe in April, setting up estimated tax payments gives you the flexibility to make four smaller payments during the year.
You Receive Significant Income from Other SourcesThere are other types of income where taxes also aren’t withheld. You’ll want to consider making estimated tax payments when you receive significant income from the following sources:
If you underpay your taxes during the year, you might face a penalty at tax time. Here’s how to determine what you need to pay and when.
To include your quarterly estimated payments, please follow these steps:
Your estimated payments will show up on line 66 of form 1040 (Schedule 5)
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