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Get your taxes done using TurboTax
Hi there, I have the same question as the thread starter. I think he/she has the same question as I do, as it seems a bit strange.
After completing the questions for the 1099-MISC section in the Wages & Income, the next screen will ask about State and local tax refunds. I've been using Turbotax for a while and don't recall being asked this or it being presented in this way before. What's strange, is that it has some numbers in there already, which I assume it's pulling from the imported 2019 tax return data from Turbo tax. However, the numbers are not correct.
There are two fields on this page, "Total Refund Received in 2020" and "Total of all your payments and withholding".
If I look at my 2019 state tax return, the "total of all your payments" number matches the number in my 2019 return. However, "the total refund Received in 2020" field does not match. It's off by a few thousand dollars. I'm confused where Turbotax even got this number from.
What should I do, adjust it to the refunded amount received from my 2019 tax return, leave it as-is, or delete it. Honestly, I don't even understand why this question is being asked on the 2020 tax return, what is the purpose of it?