How to record an estimated tax payment in Quicken Premier for Windows?

How to record an estimated tax payment in Quicken Premier for Windows? Guessing it will want to know this check is for an estimated tax payment for a given year but not sure how to do it in Quicken Premier (R36.57) for Windows.

Best Answer

  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    Answer ✓
    If there is not a category or sub category for it you can add one under Tax Category.  It should not go to the same category as withholding from W2 or 1099 income.  Then assign it to the right tax line, see my screen shot



     

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭
    When I had to make Est Tax Payments, I used the same category that I used for Fed tax w/h from my paycheck.
    For taxes paid in the 1st quarter, that were actually for the prior year, I had a category named "Prior Year Tax".
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    Answer ✓
    If there is not a category or sub category for it you can add one under Tax Category.  It should not go to the same category as withholding from W2 or 1099 income.  Then assign it to the right tax line, see my screen shot



     
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    In addition to setting up a desired category with the proper tax line assignment, you might also to go with a scheduled Bill reminder with the "Due On" selection set for the quarterly payment schedule (Change option).  I believe then Quicken will attempt to properly track that your January 15, 2022 payment relates to your 2021 taxes,  
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    And for record if you set it up as @volvogirl and @q_lurker suggests you will find that the tax report knows to pull in the next year's payment like this:

    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/