topic IRS sent a check for the amount I paid in estimated taxes. When I look at my 1040 in TurboTax, it lists my estimated payments as part of my withholding. Do I void it? in Get your taxes done using TurboTax

IRS sent a check for the amount I paid in estimated taxes. When I look at my 1040 in TurboTax, it lists my estimated payments as part of my withholding. Do I void it?

suprossa — Mon, 18 Oct 2021 02:20:30 GMT

It looks like TurboTax didn’t properly create a 1040 Schedule D for my 2019 return. Looking at my 2018 return, it put these estimated tax payments in a separate section (Schedule 5), and the corresponding total as a separate line than “W-2 withheld”. Basically, I owe this money that the IRS tried to refund—should I just void the check, or should I try and contact them or submit a correction?

Re: IRS sent a check for the amount I paid in estimated taxes. When I look at my 1040 in TurboTax, it lists my estimated payments as part of my withholding. Do I void it?

VolvoGirl — Mon, 18 Oct 2021 02:26:09 GMT

I think you can cash it. Then wait for them to ask for it back when they see the withholding line is too much.

Re: IRS sent a check for the amount I paid in estimated taxes. When I look at my 1040 in TurboTax, it lists my estimated payments as part of my withholding. Do I void it?

suprossa — Mon, 18 Oct 2021 02:40:21 GMT

Hm. I wouldn’t mind doing that, but wouldn’t that expose me to underpayment penalty fees or an audit risk?

I’ve never received a “you owe more money” letter before from the IRS.