Setup Custom Specific Estimated Tax Payments

Forum|Forum|5 years ago
February 28, 2021
2 replies
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My wife and I have previously used an accountant that setup 4 estimated tax payments each being $2,500. We want to do the same for 2021, as it ensures that we always are ensured that the full amount of our taxes are paid, and every year we get to have a nice sizeable return instead of owing money.

I've gone through the interview questions and Turbo Tax is calculating our estimated tax payments for 2021 to be $300.00 which while nice, isn't what I want. I want to have the vouchers be setup for $2,500.

Is there a way to override the interview and setup the vouches to be a specific amount, say $2,500?

Best answer by DMarkM1

In TurboTax online you have two options arbitrarily increase your income to get the vouchers up to 2500 each or have them print as they are and write in the amount you want to put on there.

In TurboTax Desktop versions you can adjust the 1040ES quarterly forms to any amount you wish in the forms view.

DMarkM1Answer

In TurboTax online you have two options arbitrarily increase your income to get the vouchers up to 2500 each or have them print as they are and write in the amount you want to put on there.

In TurboTax Desktop versions you can adjust the 1040ES quarterly forms to any amount you wish in the forms view.

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deanadk

When I bring up form 1040-ES Individual Estimated Tax Voucher it will not let me change the amount of payment. I have varying income throughout 2024 so each quarter estimated taxes will be different. Why doesn't TT give me the option to have varying income instead of assuming one flat amount divided by four quarters. I did the 2210 annualized however the vouchers for 2024 still printed with the flat amount divided by four based on my 2023 taxes.

AmyC

Employee

People used to complain it was too complicated. Clearly, you understand the payments required with the income and how the vouchers work. The IRS prefers online payments that can be made here. If you like to mail paper forms, you can cross off the amount listed or send a new Form 1040-ES

Reference: Estimated taxes | Internal Revenue Service

@deanadk

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kbor2

I am trying to set up estimated taxes for 2021. This year I did not take the RMD as the Fed allowed us to skip this year. I know my RMD amt. for next year but find no place in the turbo tax system to express this and get suggested estimated tax payment schedule.