How do I check whether the "balance payment (e-file)" is being accounted for on Turbo Tax?

Forum|Forum|2 years ago
October 15, 2023
2 replies
24 views

I didn't file my returns for 2022 yet but on the Transcript, it says that I paid some amount in estimated taxes (direct pay) and an amount labeled "balance payment (E-file)". I want to make sure that the balance payment is accounted for in Turbo Tax. How do I check?

xmasbaby0

Level 15

Did you enter the payment you made into your tax return? Go to Federal>Deductions and Credits>Estimates and Other Taxes Paid>Other Income Taxes

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

yoshlAuthor

Level 5

@xmasbaby0 @VolvoGirl

I don't remember exactly how it was paid. All I know right now is that I paid twice for 2022. A small amount as "Estimated Tax" and a larger amount as "Balance Payment".
If it says "efiled" on the IRS.gov/ID.me website, does that mean it was paid using Turbo Tax? The reason why I think it may be accounted for in Turbotax is because the amount that shows as my refund is almost the same amount that I paid. But I don't recall adding that I did a balance payment on Turbotax and was wondering if there's a place I can check for it.

The "estimated tax" is accounted for in Federal>Deductions and Credits>Estimated Taxes because I know for certain that I paid that on IRS.gov added that in manually in Turbotax. I don't remember how I paid or if I manually added anything in for the "balance payment"

by the way Federal>Deductions and Credits>Estimates and Other Taxes Paid>Other Income Taxes
doesn't exist. When you get to "Estimated Taxes" these options exist:

Federal estimated taxes for 2022 (Form 1040-ES)
State estimated taxes for 2022
Local estimated taxes for 2022
2021 state estimated taxes paid in 2022
2021 local estimated taxes paid in 2022

VolvoGirl

Level 15

No go back a screen then it's the next line Other Taxes paid below Estimated taxes.

VolvoGirl

Level 15

I don't understand the question. What transcript? The transcript at the IRS shows a balance payment? If you have a tax due it will be on your 1040 line 37. Your only proof of payment is your bank account or credit card showing the payment. Did you pay estimated payments or the tax due?

And Turbo Tax will always show the ending tax due or refund. It isn't updated when you pay the IRS or get a refund. That's just the final result of your tax return.

yoshlAuthor

Level 5

@xmasbaby0 @VolvoGirl

Is it possible that I made the Balance Payment on IRS.gov but Turbotax somehow knows this and is taking it into account? I've been looking around but there's no help guide for Balance Payments. Turbotax has a field for Estimated Payments 1040-ES but not Balance Payments. Balance Payments aren't a 1040-ES.