1. Home
  2. Taxes General Forum
  3. How to report quarterly estimated FIT paid?

How to report quarterly estimated FIT paid?

I hope someone will kindly help me with a question. My husband and I file jointly. He is still working and last year I drew Soc. Sec. Since we didn't withhold anything, we ended up having to make a substantial payment with the return. I'm just thankful they didn't sock us with a penalty. So now this is the first year we've ever had to send checks to the IRS on a quarterly basis. The IRS didn't send me any form to submit with our FIT tax return allowing for the payments. Now I am using Turbo Tax to do our return and I don't see a place to report the payments. Can anyone tell me how to go about reporting the payments on Turbo Tax? Many thanks in advance. Sharon

> > > > > > > > >
Reply to
Seeker
Loading thread data ...

snipped-for-privacy@nowayno.how (Seeker) asked:

You can always go to

formatting link
and download Form1040-ES. This not only has a worksheet to determine how muchyour payments should be, but also includes four numberedvouchers. You should fill out #l -- due April 17 -- andsend it off promptly with a check for the correct amount. The 1040-ES will also provide the correct address. Once you've sent the first payment, the IRS will respond by sending you preprinted vouchers for the 2d, 3d and 4th payments.

Sorry, not familiar with TT. On TaxWise, we could either schedule a direct w/d from TPs checking via ACH for the first periodic payment - thereby triggering the voucher supply ... or we could simply bring up Form 1040-ES, and either fill it in, or simply print it off with the TPs info, and separately provide the TP with a recommended payment amount per period, based on the income involved. Hope this helps.

Bill

Reply to
Bill

Forms>Open Form>Show All Forms> Tax Payment Worksheet

It's a "keep for your records" form where you list the quarterly payments you made for the past tax year. JOE

Reply to
joetaxpayer

I've used Turbo Tax and it has an Estimated Tax option to print 4 quarterly 1040ES forms. You may also just download the form off of the irs.gov website. Mike

Reply to
James Lewis

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.