Quarterly Tax Payments

rvseidl

As a self employed person I am required to make quarterly payments for federal tax. When I put in the payment category of Tax, Quicken asks if this was for the previous year. This is always no since I am paying for the current year. Can this be made an options in the dialog?

Jim_Harman

You are posting in the Ideas section of the forum, which is supposed to be used for proposed product improvements.

But to answer your question, usually the 4th estimated tax payment is made in January of the following year. This is probably why Quicken is asking which tax year to apply the payment to.

For proper tax reporting, you should have a special Category for estimated taxes, with the Tax line item set to "Form 1040:Fed estimated tax, qtrly"