topic How do I get back over payment money from 2015 in After you file

How do I get back over payment money from 2015

thebellings — Sat, 01 Jun 2019 04:36:19 GMT

I over paid 1,000.00 last year but did not need it. (long story) is it possible to get that money back this year? If so, how?

If you carried forward an overpayment from your 2015 tax...

ThomasM — Sat, 01 Jun 2019 04:36:21 GMT

If you carried forward an overpayment from your 2015 tax return to your 2016 tax return, that money will now factor into your 2016 bottom line. If your bottom line shows an overpayment for 2016 (which will include that amount carried forward), then you can simply have it all refunded to you on the 2016 return.

When you indicate that a 2015 overpayment should be carried forward, then once IRS processes the return, that money will no longer be part of your 2015 "account." The IRS shifts it to 2016 and it gets applied to your 2016 return. Then you can take the new 2016 overpayment as a refund, or you can carry some/all forward to 2017, and so on.

When you file the 2016 return -- assuming you have another overpayment -- TurboTax will ask you whether you want to carry any of it forward to 2017, and you can say no, which means you'll get it all back as a refund.

Unfortunately, that is a big IF that TT Thomas starts off...

fanfare — Sat, 01 Jun 2019 04:36:21 GMT

Unfortunately, that is a big IF that TT Thomas starts off with. You have to have specified this action on your 2015 tax return.
Otherwise, file a 2015 tax return for your refund. You must do so within three years of the due date.