How does TurboTax calculate my estimated tax payments?
Based on your 2016 tax information, we’ll use the lower of the following IRS approved methods to calculate your estimated tax payments.
- 90% of your estimated 2017 taxes
- 100% (110%) of your actual 2016 taxes
There are two additional IRS approved methods available:
- 100% of your estimated 2017 taxes
- 66 2/3% of your estimated 2017 taxes (farmers and fishermen only)
If you’d like to use one of the additional methods, answer Yes to the question “Do you want to adjust your income or deduction?” on the Review Your Estimates for 2017 screen. Once you review your income and deductions, you’ll have the option to select from any of the four methods.