How to report estimated tax payments

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Frisco Kid
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Location: San Francisco Peninsula

How to report estimated tax payments

Post by Frisco Kid » Thu Jan 16, 2020 4:16 pm

2019 was first year paying estimated taxes. How are the payments reported on form 1040? internet search says use a Schedule 5 but cannot find on www.irs.gov website.

Topic Author
Frisco Kid
Posts: 410
Joined: Sun Nov 16, 2014 6:18 pm
Location: San Francisco Peninsula

Re: How to report estimated tax payments

Post by Frisco Kid » Thu Jan 16, 2020 4:30 pm

I see estimated tax payments now go on Schedule 3......

muddgirl
Posts: 131
Joined: Wed Aug 17, 2016 1:33 pm

Re: How to report estimated tax payments

Post by muddgirl » Thu Jan 16, 2020 4:31 pm

Looks like for 2019 taxes it will be reported on Schedule 3, line 8.

Be careful searching for tax form advice as the IRS updated the 1040 substantially for both tax years 2018 and 2019; much advice is out of date. Best source to consult are the IRS instructions for form 1040.

jebmke
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Re: How to report estimated tax payments

Post by jebmke » Thu Jan 16, 2020 4:40 pm

The only place to find specific directions on tax forms is current IRS publications. Anything else is risky; even prior year pubs.
When you discover that you are riding a dead horse, the best strategy is to dismount.

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FiveK
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Re: How to report estimated tax payments

Post by FiveK » Fri Jan 17, 2020 1:36 am

Frisco Kid wrote:
Thu Jan 16, 2020 4:16 pm
2019 was first year paying estimated taxes. How are the payments reported on form 1040?
Are you filing by hand or using tax software?

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