Estimated Taxes for 2025

Forum|Forum|11 months ago
April 14, 2025
2 replies
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Trying to calculate quarterly estimates for 2025.

Under W4 and Estimated Taxes / Enter Other 2025 Income. TT is showing an incorrect amount for 2024 net income. My income was > than the amount shown for 2024. What line or lines on the 2024 does this result correlate to? I did remove the W2 information prior to getting to this screen but I removed it for 2025 since I retired in 2025.

Would like to get a sense of confidence that TT is actually calculating correctly...

AnnetteB6

If you are asking about the input labeled the 'net of all other income and losses' as you go through the estimated payments section, this is what TurboTax help content says this amount represents:

- Interest income

- Dividend income

- Retirement income

- Taxable Social Security benefits

- Income from S corporations, estates and trusts, and partnerships (but not partnership self-employment income)

- Rental properties (or your allowable losses from rentals)

- Any other miscellaneous taxable income or loss you expect to have next year

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VolvoGirl

Employee

What do you mean you removed the W2 information? How? Are you in the Online version or the Desktop program? You should not change or remove anything from your original 2024 return.