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Baz
Level 1

Will my payments for the estimated NY state tax I've scheduled on Turbotax be made automatically or will I just get a reminder?

 
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Accepted Solutions
Cynthiad66
Expert Alumni

Will my payments for the estimated NY state tax I've scheduled on Turbotax be made automatically or will I just get a reminder?

TurboTax will automatically calculate your potential Estimated taxes but you will have to go into the system to actually submit and pay the quarterly payments.  

 

If you’re at risk for an underpayment penalty next year, TurboTax will automatically calculate quarterly estimated tax payments and prepare vouchers (Form 1040-ES) for you to print. You're not required to make estimated tax payments; we're just suggesting it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

 

How to make Estimated payments

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1 Reply
Cynthiad66
Expert Alumni

Will my payments for the estimated NY state tax I've scheduled on Turbotax be made automatically or will I just get a reminder?

TurboTax will automatically calculate your potential Estimated taxes but you will have to go into the system to actually submit and pay the quarterly payments.  

 

If you’re at risk for an underpayment penalty next year, TurboTax will automatically calculate quarterly estimated tax payments and prepare vouchers (Form 1040-ES) for you to print. You're not required to make estimated tax payments; we're just suggesting it based on the info in your return. If you feel they're not needed for next year's taxes, you can shred them.

 

How to make Estimated payments

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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