Can I find out the breakdown of line 26 of Form 1040-SR?

Forum|Forum|5 years ago
February 11, 2021
2 replies
4 views

TurboTax Premier Online

JohnB5677

Level 15

There are two elements to it:

Estimated tax payments that you made this year.
A carryover of a refund from last year that you credited to this year.

If you made estimated payment during the course of the year that you applied to this current year's taxes, it will represent the first part of this calculation.

If you were entitled to a refund last year. You had an option to either take the refund, or apply it to this new years taxes. If you chose to have it applied to the new year it would represent the second half of this calculation.

The total on line 26 represents the combination of both.

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Peggy20

Level 2

This is exactly my question. I put $2000 of my refund in 2023 into an estimated payment for this year 2024. Turbo Tax has never asked me anything regarding that. It only asks about payments made quarterly. So should I list it as a payment made 1st quarter of 2024 since it was on my 1040 SR that was filed? How do I get that $2000 credit?

RobertB4444

Level 15

In your federal tax return go to the deductions and credits section. Under 'Additional tax payments' click start next to "Other Tax Payments" and then scroll down to "2023 refund applied to 2024" and enter the amount there.

@Peggy20

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