Question
How do i make estimated tax payment to the proper tax return
Hello,
In the past i've made estimated tax payment to the irs through EFTPS and to my state then file the tax return during tax season because i only had 1 tax return to filed. This year i will likely have 2 separate tax return to file, one which is my regular business for years using standerd deduction, then a added itemized deduction tax return. The standard deduction tax return is for my ecommerce business, while the itemized deduction is for my upcoming gambling winning/losses. Now I'm wondering when i make my estimated tax payments how will the irs know which payment is for which return or how will they calculate when im doing both returns during tax season as to which return is overpaid/underpaid