Data for Estimated taxes entry on 1040-SR, line 26 (2020).

[SCurling1]

Just received a bill for additional taxes owed from FY 2020.

The discrepancy is from Line 26 on the 1040, "Est tax payments, and amount applied from 2019 return".

Can someone tell me where this value comes from?  What data compiles the entry?

I can only compile a partial amount from looking over the return.

The IRS and I (TbTx) have a  $4,708 difference, and the IRS is only showing a $2,000 payment of the total amount of $6,708.

thanks

[Anonymous_]

It is calculated.

See https://www.irs.gov/pub/irs-prior/i1040gi--2020.pdf

Any 2019 overpayment you chose to apply to your 2020 return plus estimated tax payments for the 2020 tax year.

[SteamTrain · Accepted solution]

If you still have the Desktop software installed

Start it up and open your final 2020 tax return.

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Switch to "Forms Mode"

...look in the left window of forms and open the "Tax Payments" worksheet

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All the sources for your Estimated payment $$, (and 2019 refund applied to 2020), that you entered for that year are on lines 1-thru-7 with the total on line 8  (that goes to line 26 of the main 1040/1040SR).

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possible issues with the 2019 refund applied to 2020 amount:

1) IF you indicated that you wanted the 2019 refund applied to 2020 taxes, did you enter it twice, showing up both in the 1st Quarterly estimates (line 1 of the worksheet)  and in line 6.

2) For the first two Fed estimates did you make one estimated payment before 15 July , but list it twice on lines 1 & 2 of the worksheet

3)  IF you do have a $$ amount on line 6 of that worksheet...and IF you had an IRS refund from 2019 taxes that you had indicated that you wanted it to be applied to 2020 taxes on your 2019 tax return...and IF the IRS changed/reduced that refund when they processed your 2019 taxes?...then you needed to indicate that reduced "applied" amount when you prepared your 2020 tax file, because TTX wouldn't know the refund was reduced..

4)  IF you filed 2019, and 2020 taxes really late, and filed both on paper around the same time...then it's possible that the 2020 tax return was processed first, and they don't yet know that the 2019 refund is being applied to 2020 because they haven't processed the 2019 file yet.

[SCurling1]

Ok, I found it.  Had to re-activate the 2020 TbTx version and dig into it.  I found the values I was looking for in the "tax payments worksheet".  The IRS basically ignored my total value entered on the 1040, line 26, except for a $2,000 amount.

I'll be taking this up with the IRS,....

[SCurling1]

All good replies.  THanks for your efforts.  It was the worksheet that I needed to answer my question.

I was lucky I found the old  product license key.  When I opened the 2020 TbTx program, It made me input the license key, even though the program was still installed on my hard drive.

[Mike9241]

we can't see your returns.  in forms view look at the tax payments worksheet. that's where any overpayment from the previous year (2019) that you requested to be applied to the current year (2020) shows up and that comes from the tax history worksheet which is produced when rolling info from the previous year's return (2019)to the current one (2020) so the $ 4708 should show up on the 2019 return line 22.   did you amend your 2019 return or get a notice from the IRS that it was changing 2019? you should review your 2019 return against the IRS transcript the for that year.  if the IRS notified you as  to changes made to 2019 then if they were;t reflected in Turbotax the wrong numbers would be transferred when rolling 20199 to 2020.

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you other option

The Audit Defense service is provided by TaxResources, Inc., also called TaxAudit.com, in partnership with TurboTax. If you paid for Audit Defense and you received a notice, call TaxResources, Inc. at 877-829-9695, or report your notice on their website at http://intuit.taxaudit.com/. Do not contact the tax agency until you have spoken to TaxResources. They may contact them on your behalf.

[SteamTrain]

@SCurling1 

Yeah, try to keep your old software loaded and running, at least for 4 years back.

Don't need to uninstall them unless you are desperate for disk space.

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Another thing you could do if you really want to uninstall the older programs?

Make along with just a filing copy PDF, save a second copy with all the worksheets....that second copy, with the worksheets, is something you could look at many years into the future to find "issues" without having to have the software installed. 

(But having at least 4 years installed would allow you to amend...at-will....if needed for some IRS questions, or other mistakes/foul-ups.  Some folks say only last 3 years would be needed, but I like at least one extra year)