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Level 2
April 1, 2022
Question

adjusted refund

  • April 1, 2022
  • 1 reply
  • 0 views

received a letter in may 2021 and check from irs that they changed 2020 form 1040sr and gave a refund. did not get a 1099-g. where does this money get entered for 2021 taxes?

    1 reply

    Alumni - Champ
    April 1, 2022

    It does no get taxed

    bn156Author
    Level 2
    April 1, 2022

    also received a refund this year (2/22) after the last estimated tax payment in January. shouldn't this be entered somewhere to offset the estimated tax payments for 2021?

    Level 15
    April 1, 2022

    It depends.  If you applied a refund from 2020 to your 2021 estimated tax payments and then the IRS refunded that money to you instead then you should adjust your estimated tax payments for 2021.

     

    If you did not apply any of a refund to your 2021 estimated tax payments, from your 2020 tax return, then there is no adjustment to make.

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