Calculate Estimated tax for 2013

I have 2012 Turbo Tax Home & Business.  I have used the estimated tax calculator before, but can't find it.  Where is it located?  I need easy navigation.  Thanks!
  • I am required to file estimated taxes for the first time and have no Idea how to do it.  I can't find any clue on how to get started here on Turbo Tax.  Is there a form for me to fill out for this?
  • JCutcher.....did you scroll down below????..there are several directions BELOW to either direct you to the TTX forms, or to the IRS forms.
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Where does it say 2012?  You need to use the 2012 program to prepare the 2013 quarterly estimates.

To prepare the quarterly estimated tax forms 1040ES for next year go to
Federal Taxes or Personal (H&B version)
Other Tax Situations
Other Tax Forms
Form W-4 and Estimated Taxes - Click the Start or Update button 

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    See this link for instructions on reaching your Estimated Tax Calculator:

    http://turbotax.intuit.com/support/iq/Form-W-4-and-Estimated-Taxes/Do-I-need-to-make-estimated-tax-payments-to-the-IRS-/GEN12306.html

    Select "Calculating and Preparing Your Estimated Tax Payments".

    I'm also adding the IRS link to the 1040-ES publication.  See the worksheet on page 7 for another helpful tool.

    http://www.irs.gov/pub/irs-pdf/f1040es.pdf

    Hope this helps!


    • I did exactly as you said but it still says 2012.  im still trying to file my 2013 taxes and i feel like im getting ripped off by turbo tax because i just paid 120 dollars for the latest version of their softeware and it doesnt include 2013??? what the hell!
    • deboardz:  I'm not sure what you are asking, as your comment is a little confusing.  2013 tax returns aren't filed until early 2014.   This post is asking about how to calculate estimated tax payments (quarterly) for the tax year 2013.  The latest version of TurboTax software is the 2012 edition.  Please tell me what you are trying to do and I'll see if I can help.
    • My question is extremely similar. I have to figure out my taxes for 2013 because we defaulted on a 401k. We have increased the amount of taxes taken out of our paychecks and need to know how much more I am going to get hit with when taxes are due in Jan 2014. How can I do this without the 2013 program which should help me estimate.
    • Kiddatheart...
      You can still use the forms at the iRS site that kat528 noted above.

      Barring that, if you have 2012 Desktop Turbotax, you can either
      1) Create a new test tax return with all the parameters that you expect to have for 2013....yeah, soem fo the rates might change, but you could check the IRS 2013 tax tables to see whether your incoeme with teh 401k default will bump you into a different bracket or not.  Use Save As on your 2012 tax return to save it in another named file (don't work in the originial...DO NOT WORK ON THE ORIGINAL)...then change all the numbers on the test file (W-2 income and withholding, interst and dividends, deductions etc) to approximate what you expect to happen for 2013.  
      Then you will add a 1099-R under the retiremnt incoem section that shows box 1 and box 2a of the 1099-R as $$ amounts that approximate the $$ amount of your defaulted loan (only the amount you haven't paid back yet) with a code "L" in box 7 (I think).  then put yoru state in box 13 and copy the box 2a amount down into box 14.  All your other entries need to "appear" to be 2012 entries though,  Like...if you put in quarterly estimated tax payments, you have to use 2012 dates for most of them.  But most of them are already 2012 values, you ususallya re jsut changing the $$ amounts.  You can then see the total tax assessed on the form 1040 (line 61), and see if your tax payments for this year will come anywhere close to the total assessed.

      or
      2)  Again, save your tax return into a new test filename, then go to the "Other Tax Situations" tab and prepare the estimated tax payment forms....but these are "based on" your entries into the system and are only as accurate as the data you dump in.  Thse forms will...however, use the correct 2013 tax brackets....but I'm not sure that they will include the 10% penalty on that early 401k distribution/default...but you can add that manually.   Using #1 above will include the 10% penalty..
      Anyhow, if you enter your expected withhodling and increased "income" properly, the estimated tax forms should show only the total extra $$ that are calculated to be needed...if any.
    • I am trying to estimate my California Tax Obligation for 2013 as I sold a property in 2013.  The Escrow Company withheld Califronia Income tax on the sale since there was a gain  I cannot fine where I enter the California Tax withheld in the Sale of Property.  I use the Online version of Turbo Tax and have been doing that for many many years.

      Dan
    • can u import your Quicken 2013 data need to determine right amount to pull fro ira to stay in low tax %

      John
    • bestillyoga:  Would you please post your question as a new post?  I'm not familiar with Quicken (though others here are), and you're likely to get an answer much more quickly by posting a new question.  The original question posted here had nothing to do with Quicken.  Thanks!
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