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December 6, 2024
Question

How to report California Estimated Tax Payment (540ES) on turbotax

  • December 6, 2024
  • 2 replies
  • 0 views

Hello, 
I need to pay some additional tax to California and plan to do so via the Franchise Tax web portal.

My questions are

1. On the California FTB website, I assume I need to choose "Estimated Tax Payment (540ES)" as the option when making a payment?

2. How do I report the additional payment from step #1 on turbotax?

 

Thank you.

    2 replies

    SteamTrain
    Employee
    December 6, 2024

    @AnuragI 

     

    In the TurboTax software, on the Deductions & Credits page, there is a section for enter any Estimated tax payments you made for 2024....and individual sub-sections for Federal, or State quarterly estimated paid during 2024, (even a separate entry area for Local quarterly estimates paid for folks living in states with a local city/county income tax).   You'd enter it there.

    ____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
    VolvoGirl
    Employee
    December 6, 2024

    I’m in California too.

    #1. Yes pick 540ES payment for 2024.

     

    #2. To enter Federal or State Estimated Taxes Paid, including a state estimated payment made in January for the prior year, go to

    Federal on left or at top.  Personal (Home & Business)

    Deductions and Credits at top

    Then scroll way down to Estimates and Other Taxes Paid

    Estimated Taxes - click the Start or Update button

     

    You enter state estimated payments under the federal side (because they can be a federal itemized Deduction).  THEN after you finish filling out the estimates under Federal you need to click on the State Tab at the top and start the state return over for it to update.

     

    You have to pick the right state from the drop down box and enter the right payment dates.