does turbo tax have an estimated tax calculator

Forum|Forum|1 year ago
March 23, 2025
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I need an estimated tax calculator that adjusts for varying income in each quarter. This year my first quarter income will be larger than the other quarters because of a Roth conversion and according to IRS 1040-ES, I would need to adjust my quarterly payments accordingly. Does Intuit have an estimated tax calculator that adjusts estimated quarterly payments?

TurboTax Deluxe Online

Best answer by DaveF1006

in searching through the internet, I can't locate a calculator that calculates estimated tax payments that uses the Annualized method. The next best thing is to use Worksheet 2-7. 2025 Annualized Estimated Tax Worksheet that appears in Publication 505.

MindyB

Yes. Here is how to update in TurboTax Online:

Navigate to Federal Taxes > Other Tax Situations
Go to Other Tax Forms
Start or Revisit Form W-4 and Estimated Taxes
Continue past the W-4 section to get the estimated tax section, Estimated Taxes for 2025
You will be asked if you want to adjust your income or deductions, answer yes, and manipulate the answers to increase your tax (in other words, estimate up income and/or down expenses)

poets-impost3pAuthor

Thanks but I only see that it calculates the estimated payments as if the income is earned equally over the year and makes the payments equal. In my situation my income is high in the first quarter and lower the remaining three quarters. The 1040-ES form says to adjust payments if income varies through the year but I don’t see a way of doing that the form refers me to Pub 505 if that helps.