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wlsmith37080
Level 1

Why, on the QB Self-Employed Taxes page, is the "Quarterly taxes summary" amount due for Q2 different from the Q2 amount due on the right under "Quarterly estimates?"

 
Solved
Best answer May 31, 2021

Best Answers
JessT
QuickBooks Team

Why, on the QB Self-Employed Taxes page, is the "Quarterly taxes summary" amount due for Q2 different from the Q2 amount due on the right under "Quarterly estimates?"

Hi wlsmith37080,

 

Sometimes, the taxes of a particular period in the summary and estimates won't be the same because of an overdue amount from the previous quarter. The summary carries the overdue amount from the previous quarter to the current quarter while the estimates only show the amount per quarter. Example below.

 

 

Let me know if you have additional questions about this. Have a good one!

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2 Comments 2
JessT
QuickBooks Team

Why, on the QB Self-Employed Taxes page, is the "Quarterly taxes summary" amount due for Q2 different from the Q2 amount due on the right under "Quarterly estimates?"

Hi wlsmith37080,

 

Sometimes, the taxes of a particular period in the summary and estimates won't be the same because of an overdue amount from the previous quarter. The summary carries the overdue amount from the previous quarter to the current quarter while the estimates only show the amount per quarter. Example below.

 

 

Let me know if you have additional questions about this. Have a good one!

wlsmith37080
Level 1

Why, on the QB Self-Employed Taxes page, is the "Quarterly taxes summary" amount due for Q2 different from the Q2 amount due on the right under "Quarterly estimates?"

Now I understand. Mine was a bit more complicated because I also made a previous payment. But the math works out. Thanks.

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