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March 9, 2020
Question

The tax I owe this year is $2,809 but the final form is asking that we pay estimated taxes of nearly $1500 quarter. This would equal almost $6000? This must be an error?

  • March 9, 2020
  • 1 reply
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    1 reply

    Employee
    March 9, 2020

    Turbotax is not very smart about calculating next year's estimated taxes.  Any estimates that it wants you to pay are separate from your bill for 2019, and the vouchers should have "2020" in the top corner next to the label for form 1040-V or 1040-ES.  If you want to make no estimated payments, or calculate them a different way, that's up to you.  

    Mike120Author
    March 9, 2020

    Perfect.  Thanks so much !!