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March 14, 2022
Question

Required to pay estimated taxes?

  • March 14, 2022
  • 2 replies
  • 0 views

We took a large withdrawal from our 401K in 2021, and they did not withhold enough federal or state tax.  Turbotax is showing that I need to make quarterly estimated tax payments in 2022.  How do I amend the return to show we will not have this income in 2022, so we will not have to make these estimated payments?

    2 replies

    DoninGA
    Employee
    March 14, 2022

    There is no need to amend the 2021 tax return.  The Forms 1040-ES are for your use only and can be used or not, it is your choice.  The forms are not included in your filed tax return and not reported to the IRS.

    nanajanetAuthor
    March 14, 2022

    Thank you!