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March 4, 2020
Question

If turbo tax did not print out estimated tax vouchers for 2020, does that mean I don't have to pay estimated taxes this year?

  • March 4, 2020
  • 1 reply
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1 reply

Kat11_2
Employee
March 7, 2020

Not necessarily.  TurboTax typically prints vouchers if you owed taxes at the end of the year.  But TurboTax doesn't know what your income is and the amount you're having withheld (as an employee).  You may have other types of income (self employment, investment income, etc.) that no federal tax is being withheld from.  See the information I'm linking below that will help you determine if you need to make estimated tax payments.  Don't forget state estimated tax payments, as well, if that applies in your situation.

 

https://turbotax.intuit.com/tax-tips/small-business-taxes/estimated-taxes-how-to-determine-what-to-pay-and-when/L3OPIbJNw

 

 

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*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***