Question

Can I adjust TurboTax's prior estimated tax calculations since my self-employment income is lower than originally estimated?

Forum|Forum|1 year ago
January 4, 2025
1 reply
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Employee

If you think making an estimated payment (in January?) will overpay what you needed to pay, then just pay less when you make the last estimated quarterly payment. No need to do anything to your past year tax return, if that is what you are asking about doing. And if you are using a 1040ES voucher that was pre-printed for you, just cross out the printed amount and ink in the amount you are paying.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

G

griffin167Author

Thanks for your response. I was hoping to use TurboTax's estimated tax calculator to adjust my last estimated payment (yes - the Jan. 15th one!). But I did it manually and determined I don't need to make it at all. Thank you again and happy New Year!