"Is this transaction a payment of taxes for tax year 2022?" Payment of quarterly estimated taxes

trailtrailer

This pops up when I am updating my accounts:

"Is this transaction a payment of taxes for tax year 2022?"

Then lists a transaction that is an estimated tax payment made in the current year, to go toward the current year's taxes. (Quarterly estimated tax payment for a small business.)

The popup is always asking if it is a payment of taxes for the PREVIOUS year (2022 in this case.) So I always say no.

However I just realized when it asked me this time, I actually was paying estimated taxes for last year (2022's Quarter 4 estimated taxes, due in early January 2023). So in this case I clicked no, but I think I should have clicked yes.

So how would I fix this mistake I made. Similar question, what is the software doing when I click yes/no to this popup?

Mark1104

just open up the transaction and make the smallest of changes (put something in the meno field). It'll ask you again when you go to save the transaction.

What the software is doing is determining which year the transaction should be included on for the tax reports. Same thing occurs from 1./1 - 4.15 if you are making IRA / 401(k) contributions. It'll ask what year the contribution relates to, for the same reason.