Estimated taxes for 2024.

Forum|Forum|1 year ago
February 19, 2025
1 reply
0 views

I read a post where someone asked where to report payments made for estimated income. I see it is in the other income tax section but not sure exactly where. I paid four quarterly payments last year 2024 and would I report that in the Withholding not already entered on W2 or 1099? Would I put that in the Federal withholdings box? This is very confusing.

Best answer by MinhT1

These payments are Federal estimated taxes.

Your estimated tax payments will serve as a credit against your Federal tax liability and have to be entered on your tax return.

In TurboTax Online, you can enter estimated taxes you paid by following these steps:

Open your tax return
Click on Federal in the left-hand column, then Deductions & Credits
Navigate to the list of Deductions and Credits
Locate the section named Estimates and Other Taxes Paid and click on the arrow on the right
Click on Start next to Estimated Tax Payments
On the next page, click Start next to Federal estimated taxes for 2024 (form 1040ES)

MinhT1Answer

These payments are Federal estimated taxes.

Your estimated tax payments will serve as a credit against your Federal tax liability and have to be entered on your tax return.

In TurboTax Online, you can enter estimated taxes you paid by following these steps:

Open your tax return
Click on Federal in the left-hand column, then Deductions & Credits
Navigate to the list of Deductions and Credits
Locate the section named Estimates and Other Taxes Paid and click on the arrow on the right
Click on Start next to Estimated Tax Payments
On the next page, click Start next to Federal estimated taxes for 2024 (form 1040ES)