How to enter multiple quarterly tax payments in a quarter
I made more than one estimated tax payment in Q2, but in the Quarterly Tax section where I enter these payments there is only space for one payment per quarter. The IRS states you can make more than one payment in a quarter. How do I log more than one payment per quarter in this FreeTaxUSA Quarterly Taxes section?
Comments
-
Hi caseyhogan,
Thank you for your question. You will need to add up all estimated tax payments sent to the IRS during the quarter, and enter one date. The due date of estimated tax payments for Q2, which covers the months of April and May, is June15th.
0 -
But I have a penalty as I did not make an estimated tax payment in the first two quarters. The interest of the penalty is more depeding on which date I use. Should I use the date of my first payment in a quarter or the date of my last payment in a quarter?
0 -
I recommend using the last payment date in the quarter, since that is the date that will reflect when your quarterly estimated payment was made in full.
0
