Every other year the downloaded return includes 1040-ES forms for estimated taxes for the current year along with instructions. This year the download is just the 1040 return for federal and state. No instructions. Does that mean I don't have to pay estimated taxes for the first time in my life?
It depends. TurboTax uses the most recent information when calculating your 2021 estimated taxes. Generally, taxpayers have to make estimated tax payments if they expect to owe tax of $1,000 or more when their return is filed. However, if you have always made estimated tax payments, and your tax situation did not drastically change in 2020, then usually you would make estimated tax payments for the following year as well.
TurboTax allows you estimate your 2021 income and deductions in order to calculate and create estimated tax payments, if necessary.
Please follow these steps to calculate and generate 1040-ES vouchers:
If you used TurboTax Online to prepare and file your tax return, please see the below TurboTax help article for instructions on how to download a copy.
How do I get a copy of a return I filed this year in TurboTax Online?