My estimated quarterly tax payments are not being calculated and show zero dollars. Am I missing something in my profile?

Hi janakserviceco,

You'll want to calculate your owed quarterly tax amounts and figure out your estimated quarterly tax payments using Form 1040-ES.

Here's an article on how to calculate estimated tax payments: How We Calculate Estimated Tax Payments.

However, there are certain types of taxes that we don't calculate. 

• State income taxes
• Sales tax
• AGI phase-outs and alternative minimum tax (AMT)
• Children's interest
• Medical expenses, stock payouts, and 401(K) draws
• One-time lump-sum distributions
• Special-cases standard deductions (if you're blind, over 65, etc.)
• Tax credits

Please check these articles for more information:

• Estimated Taxes Explained
• Schedule C: Estimated Taxes

For future reference about Schedule C Categories breakdown: QuickBooks Self-Employed Schedule C Categories breakdown.

If you have any other concerns, please let me know so we can help. I'll be here to help.

Thank you so much for your response. When I had my first transaction in QuickBooks self employed, it calculated estimated quarterly taxes for me. I’m now a month into using the software and it is no longer doing that. Are you saying I need to calculate that myself and enter it into the software?

Hello there, @janakserviceco.

I'll take it as you want to know where to see the tax deductions and how to calculate them.

Tax calculations are based on three main things:

1. Your self-employment income and deductions
2. Projections of your income and deductions for the current year.
3. Your tax bracket and other info you added when you set up taxes.

For more detailed information, you can check out this  article about: How we calculate estimated tax payments.

I've attached these articles to know more about the tax deductions in QuickBooks.

• Self-Employment Taxes
• Complete guide to filing self-employment taxes

Leave a comment below if you have further questions or any follow-ups. I'll be here to help. Have a good day.

I have a similar question.  I have made my quarterly payments for 2019, but they are not showing up in my transactions as quarterly payments having been paid.  It shows a $0 amount paid.  Is there a way that QB can see them as quarterly payments?

Thanks!

Hi mlemeee2020,

You'll want to make sure that you've recorded manually the transactions so you'll be able to access it under Quarterly payments.

Here's how:

1. Click Transactions on the left menu.
2. Click Add Transactions.
3. Fill in the necessary information such as the Date, Transaction, Amount.
4. Under the Category column, make sure to select Estimated taxes.
5. Click Save.

Once you go to the taxes menu, you'll be able to view the payment. 

I've added this article for your future reference on how to categorize transactions: QuickBooks Self-Employed Schedule C Categories Breakdown.

You can always touch base with us if you have any other concerns. I'm always right here to help