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June 8, 2019
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I was given 4 installment payments to,print out for 2019? What are these for?

  • June 8, 2019
  • 2 replies
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Best answer by VolvoGirl

You can ignore them.  The estimated payments are optional to pay. They are estimates for next year. Turbo Tax doesn't want you to owe next year. They might have printed out if you got a one time large income this year. Like if you took a IRA or 401K distribution or a large capital gain. They DO NOT get sent to the IRS or state with your return.

You might want to adjust your withholding at work so you won't owe too much next year.  They don’t get sent with your tax return so the IRS or state won’t be expecting them.

2 replies

VolvoGirl
VolvoGirlAnswer
Employee
June 8, 2019

You can ignore them.  The estimated payments are optional to pay. They are estimates for next year. Turbo Tax doesn't want you to owe next year. They might have printed out if you got a one time large income this year. Like if you took a IRA or 401K distribution or a large capital gain. They DO NOT get sent to the IRS or state with your return.

You might want to adjust your withholding at work so you won't owe too much next year.  They don’t get sent with your tax return so the IRS or state won’t be expecting them.

June 8, 2019
To pay estimated taxes in the event I expect to owe over $1000 for taxes next year