Question

Do i have to pat Estimated tax payments?

Forum|Forum|6 years ago
February 3, 2020
1 reply
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Do i have to pay the estimated tax payments of $271?

TurboTax Deluxe Online

Employee

Those are just recommended payments based on what you entered, and ,maybe owed xtra this year when you file..

The best option is to not use them (the IRS and state don't know they were prepared (NY might be an exception if you make the wrong choices)). Instead, increase your tax withholding at work by ~$50/paycheck (if paid twice a month) for every extra $1000 you have to pay in with your 2019 forms.

IF you received an unusually large $$ distribution of some kind in 2018, that won' happen in 2020, you can probably ignore them altogether.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*