State Tax Refund

Forum|Forum|7 years ago
July 11, 2019
1 reply
17 views

My state refund was significantly higher than the TT estimate. What does this mean for me on the federal side, where I had to pay this year (no refund)? Will the amount due the IRS be recalculated? Will I be refunded the overpayment? How will TT account for the higher amount when I file next year. Will I manually input the new amount?

Critter

Level 15

What does this mean for me on the federal side, where I had to pay this year (no refund)? Will the amount due the IRS be recalculated? It doesn't effect the 2018 fed return.

Will I be refunded the overpayment? The state should have sent a letter of explanation to tell you why the amount was different ... most likely it was a data entry error on your part.

How will TT account for the higher amount when I file next year. Will I manually input the new amount? On the 2019 return you need to review the state refund section and make sure the correct amount is reported ... do not just let the program transfer in the incorrect amount. OR once you find out where the error happened you can amend the return so the reflects the state changes.

Critter

Level 15

Additional answer ... if the error was in the amount of estimated payments made then it could effect the federal return ... in that case you should amend the return to see if it does effect it.