Question

Can I pay my 1040ES payments by withholding instead?

Forum|Forum|3 years ago
April 5, 2023
2 replies
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I have an trad IRA that I take distributions. So, TurboTax estimated my 1040ES payments on my return. Last year I paid them online with IRS. But this year, I realised my broker can withhold 100% of a distribution. Could that count as my quarterly estimated tax payment?

Not A Product Question

CatinaT1

Yes. If you prefer to have taxes withheld, you would no longer need to make estimated quarterly payments. If you have 1040ES vouchers, you do not need to do anything to void them.

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S

SaoirseAuthor

Wow, brilliant. Thanks so much. That will save a lot of time and having to shift money over to my other account to send payment. Now, they can just withhold it and it's all sorted.