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blooms21
New Member

Estimated Payments

If I applied some of 2019's tax refund to 2020's estimates, do I put that amount in the first of the estimated payments in TurboTax? Or does it already show up elsewhere?

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2 Replies
RayW7
Expert Alumni

Estimated Payments

If you applied your refund to next year’s taxes, the refund amount will apply to the first estimated payment until all of the refund has been used.  Using your tax refund this way might help you reduce the burden of setting aside money to pay your estimated taxes.

 

Not sure you want to use all of this year’s refund for your estimated taxes?  You can always choose to partially apply your refund to next year.

Estimated Payments

No don't enter it as a quarterly estimated payment.  But it does go in the estimates section.

 

Make sure you enter it on your return. It will show up on 1040 line 26 with estimates paid. It will either add to your refund or reduce your tax.

 

If it didn't transfer over from last year then enter a refund from last year that you applied to this year here. BUT first make sure it's not already there. You don't want to apply it twice.
Federal Taxes
Deductions and Credits
Then scroll way down to Estimates and Other Taxes Paid
Income Taxes Paid - Click the Start or Update button

 

Next page scroll down to 2019 Refund Applied to 2020
Click Start or Update by the tax you applied

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