topic Re: State Tax Refund in After you file

State Tax Refund

Slugman85 — Thu, 11 Jul 2019 03:41:25 GMT

My state refund was significantly higher than the TT estimate. What does this mean for me on the federal side, where I had to pay this year (no refund)? Will the amount due the IRS be recalculated? Will I be refunded the overpayment? How will TT account for the higher amount when I file next year. Will I manually input the new amount?

Re: State Tax Refund

Critter — Thu, 11 Jul 2019 12:22:15 GMT

What does this mean for me on the federal side, where I had to pay this year (no refund)? Will the amount due the IRS be recalculated? It doesn't effect the 2018 fed return.

Will I be refunded the overpayment? The state should have sent a letter of explanation to tell you why the amount was different ... most likely it was a data entry error on your part.

How will TT account for the higher amount when I file next year. Will I manually input the new amount? On the 2019 return you need to review the state refund section and make sure the correct amount is reported ... do not just let the program transfer in the incorrect amount. OR once you find out where the error happened you can amend the return so the reflects the state changes.

Re: State Tax Refund

Critter — Thu, 11 Jul 2019 12:25:05 GMT

Additional answer ... if the error was in the amount of estimated payments made then it could effect the federal return ... in that case you should amend the return to see if it does effect it.

Re: State Tax Refund

Slugman85 — Fri, 12 Jul 2019 01:46:39 GMT

Thanks for providing such a detailed response. I truly appreciate it. I did receive a letter from the state explaining the reason for the larger refund. I received an electronic deposit directly into my checking account, might that be the reason why? Without an explanation for the difference, I most certainly will make the same misstate next year. I'll try contacting the state for an answer.

Re: State Tax Refund

VolvoGirl — Fri, 12 Jul 2019 01:51:38 GMT

How you got the refund like by Direct Deposit has no bearing on why it was more than you expected. What did the state say? You said you got a letter explaining why.