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June 3, 2019
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I listed my estimated tax payment as an expense and a deduction. Should I only list this as a deduction?

  • June 3, 2019
  • 1 reply
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Best answer by Coleen3

It is neither an expense or a deduction. It is a payment, under the IRS pay-as-you-go system, just like the withholding on your W-2 would be.

The payment is, however, entered in the Deductions and Credits portion of the program. See the screenshot below.

1 reply

Coleen3Answer
Employee
June 3, 2019

It is neither an expense or a deduction. It is a payment, under the IRS pay-as-you-go system, just like the withholding on your W-2 would be.

The payment is, however, entered in the Deductions and Credits portion of the program. See the screenshot below.

qdouglas2Author
June 3, 2019
I entered it under deductions and credit. However, there was also a section in self-employed income and expenses that had a section on taxes. I listed it in that section too. Should I remove it from that section?