Is figuring quarterly estimates, the number auto filled into the "other income" field is high, What info migrates to the other income entry when figuring estimated tax?

Forum|Forum|1 year ago
April 4, 2025
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I'm retired, entered Dividend and Cap gains, but with the number that the program added to "other income" the total would be much higher than my total income.

TurboTax Online

BrittanyS

Other income can be the following types of income:

Money you received from something like a prize, award, lawsuit settlement, etc.
It's most often on a 1099-MISC (Box 3)
You report it on Line 8 of Schedule 1 of the Form 1040

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fredmbogardAuthor

Thanks Brittany. But the number that the program auto filled into the "other income" portion of the figuring quarterly estimates, was quite large 84k+, I don't have any 1099 misc income in my return, The only things not entered under dividends, and capital gains, should have been rental income, (a loss this year) a bit of ordinary interest 17k? and about 17k of SS retirement income. So much less than the 84k that auto populated into the estimated taxes area of the program? Can you tell me which lines on 1040 are auto added into that line?

Thank you

AnnetteB6

From TurboTax help content, the 'other income' category includes:

- Interest income

- Dividend income

- Retirement income

- Taxable Social Security benefits

- Income from S corporations, estates and trusts, and partnerships (but not partnership self-employment income)

- Rental properties (or your allowable losses from rentals)

- Any other miscellaneous taxable income or loss you expect to have next year

The best thing you can do is to go through the estimated payments section and adjust the expectations for your 2025 income so that you can see and understand what is going into the calculation. Use the steps in the following TurboTax help article to do this:

Can TurboTax calculate next year's federal estimated taxes?

@fredmbogard

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