Why did my filed 2020 return include estimated payments for 2021?

Forum|Forum|5 years ago
April 10, 2021
1 reply
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And am I required to make these payments?

TurboTax Deluxe Online

AnnetteB6

Level 15

The quarterly payments shown on the Form 1040-ES vouchers represent estimated payments for your 2021 tax return. If you had a balance due these vouchers may have been printed with your return automatically by TurboTax in order to try to prevent you from having a balance due and an underpayment penalty for 2021. It is not required that you make these quarterly payments and the information on the Form 1040-ES has not been sent to the IRS.

The amount of estimated payments is based on the information entered into your return. Even though it is not required, if you expect a similar tax situation for 2021 as reported on your 2020 return, making the quarterly payments would be recommended. You can certainly choose to pay a different amount than what was suggested, or even make no quarterly payments at all.

For more information about how the estimates were calculated, see the following TurboTax article:

How does TurboTax calculate my estimated tax payments?

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