I e-filed my 2022 1040-SR tax return , received notice that the IRS accepted it, and a refund was due. Today I found that the IRS is set to send the refund to my bank account but for a smaller refund. Checking my return, I discovered that the 2021 refund that I elected to have used as a 2022 estimated tax payment was included in error by me when completing the credit section for estimated taxes paid. The amount of my error equaled the difference in the refund. Do I need to amend my return?
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No, there is no reason to amend. The IRS already adjusted your tax return.
So it was in 2 places? In the estimated payments and as amount applied from last year? So line 26 was too much? No you don't have to amend for that. The IRS adjusted your return for you.
If I use Turbo Tax next year will the imported info from 2022 be correct, specifically 2022's refund without me changing it in the 2022 Turbo Tax file?
however, if you had a 2022 overpayment that you elected to apply to 2023, that may be reduced because of the error so you may need to review your tax payments for 2023 and even correct the 2022 TurboTax file - still no need to amend. the only purpose is so you don't overreport estimated tax payments when doing 2023.
Thank you all for the quick and helpful reply's.
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