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Is there a place on MMK where you can enter the quarterlies you have paid to Fed and State so that they show up when you print reports at the end of the year?
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Unfortunately not. You could enter them as an expense by creating a new expense category for them. They would then appear as an expense on Schedule C along with all other expenses. However, estimated taxes are not actually a deduction. -
So do we just keep track of them so our tax person knows how much we have already paid when the finish up our 1040 and the like? I feel like after paying in that much I should get to put it somewhere!
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Estimated taxes
Keep your own records of how much you have paid in throughout the year. It's not a deduction.Comment
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