DaveF1006
Expert Alumni

Retirement tax questions

No, that is the correct section to enter repayments over $3000.  There is no other place to record that information except here. 

 

Secondly, if you were required to make estimated tax payments for the year but don't, you may be assessed a penalty for each quarter that you miss a payment.  For an example, if you miss a quarter's payment on a Arizona, AZ can assess a penalty of .5% each month of that quarter. This means that if you missed a full year, you may be charged 2% for the full year on the unpaid balance, even though you had no tax due in the following year. Read this notice from the state of AZ for further details. So no, do not throw away those vouchers.

 

Keep in mind, if you have no taxes due next year, you will receive the full amount of your estimated taxes you paid throughout the year on your AZ state return for the 2023 tax year.

 

if you have no federal depreciation to report, disregard AZ-only depreciation.

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