Filing Extension

Yes, if you expect to owe taxes for 2024, you must make full payment now with your extension, or you will have a penalty and interest applied for late payment (if you are unsure of the exact amount, overestimate and you will get a refund for the overpayment).  Yes, if your child needs to file you should file an extension for them (if they are getting a refund you are not required to file an extension.)

1. On the left rail menu in TurboTax Online Select Tax Tools  (You may have to scroll down on the left rail menu.)
2. On the drop-down select Tools 
3. On the Pop-Up menu titled “Tools Center,” select File an extension
4. Follow the instructions to start the extension process

Also, you may have to do your state taxes: Do I need to file an extension for my personal state taxes?  

Remember, an extension gives you more time to prepare your taxes, but it doesn't extend the time to pay your taxes.  If you have an indication that you will owe taxes, you should make the payment by the original due date of the tax return to avoid additional interest and penalties. 

Does my kid needs to file extension even though I will be claiming them as a dependent in my married filing jointly return? My kid is in college.