I need to reduce my 2020 overpayment amount applied to 2021 taxes due to a penalty assessment

Forum|Forum|4 years ago
July 19, 2022
2 replies
20 views

penalty reduced overpayment

TurboTax Self Employed Online

DoninGA

Level 15

To enter, change or delete a refund from the prior year applied to this years taxes (Federal, State, Local) -

Click on Federal Taxes (Personal using Home and Business)
Click on Deductions and Credits
Click on I'll choose what I work on (if shown)
Scroll down to Estimates and Other Taxes Paid
On Other Income Taxes, click on the start or update button

On the next screen select the options under 2020 Refund Applied to 2021

Or enter refund applied to this year in the Search box located in the upper right of the program screen. Click on Jump to refund applied to this year

The prior year refund amount applied is shown on Form 1040 Line 26

mfoster1Author

Level 2

this worked. thanks

I need to reduce my 2020 overpayment amount applied to 2021 taxes due to a penalty assessment

2 replies

Unlock tailored help options in your account

Get answers to all your tax questions

Unlock tailored help options in your account

Get answers to all your tax questions

Sign up

Login with SSO

Let's get you signed in

Login with SSO