I paid back $1077 to the IRS based on an overstated 2017 refund, and believe I can claim this repaid tax on my 2018 return. But I can not find WHERE this tax credit goes. Turbo tax suggested I put it under Estimated Taxes, but I want to be sure that is right.
You'll need to sign in or create an account to connect with an expert.
Unfortunately, the amount of the 2017 income tax refund for 2017 you had to pay back due to an overstatement cannot be used as a credit on your 2018 return. It is not considered a Tax Credit.
If you put the $1077 under Estimated Taxes, your 2018 refund will also be overstated and you will once again have to pay back the $1077.
Unfortunately, the amount of the 2017 income tax refund for 2017 you had to pay back due to an overstatement cannot be used as a credit on your 2018 return. It is not considered a Tax Credit.
If you put the $1077 under Estimated Taxes, your 2018 refund will also be overstated and you will once again have to pay back the $1077.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
lewisbgonzalez24
New Member
shervin-abtahi
New Member
kceresini22
New Member
rdbeamer
New Member
mbogema1998
New Member