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gman1492
Level 1

Estimated Tax : First Payment

Say you applied your 2018 refund to 2019 and then made an additional payment (for the 1st quarter) by April 15, 2019.

Since Turbo Tax already knows you applied the refund towards the estimate tax, do you enter only the additional payment on the turbo tax estimated tax section or the total of both amounts?

 

For example,  $1000 refund applied towards next year and an extra $500 by April 15.  When filling out the estimated tax section do I enter $500 ( assuming the program will add in the $1000 refund) or just the $500 payment.  I don't want to take credit twice. 

1 Best answer

Accepted Solutions
DoninGA
Level 15

Estimated Tax : First Payment

You need to add the $500 as an Estimated tax payment. 

Then you need to check to see if the program carried over the $1000 for the 2018 refund applied to 2019.

On Other Income Taxes, click the start button

On 2018 refund applied to 2019 taxes, click on the start button

If there is an amount shown in the box, then all is good.  If not, enter the amount of the 2018 refund that was applied to the 2019 taxes

 

Federal estimated taxes paid are entered on Form 1040 Schedule 3 Line 8. The totals for Schedule 3 flow to Form 1040 Line 18d

Amount of a 2018 federal tax refund applied to 2019 is entered on Form 1040 Schedule 3 Line 8. The totals for Schedule 3 flow to Form 1040 Line 18d

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2 Replies
DoninGA
Level 15

Estimated Tax : First Payment

You need to add the $500 as an Estimated tax payment. 

Then you need to check to see if the program carried over the $1000 for the 2018 refund applied to 2019.

On Other Income Taxes, click the start button

On 2018 refund applied to 2019 taxes, click on the start button

If there is an amount shown in the box, then all is good.  If not, enter the amount of the 2018 refund that was applied to the 2019 taxes

 

Federal estimated taxes paid are entered on Form 1040 Schedule 3 Line 8. The totals for Schedule 3 flow to Form 1040 Line 18d

Amount of a 2018 federal tax refund applied to 2019 is entered on Form 1040 Schedule 3 Line 8. The totals for Schedule 3 flow to Form 1040 Line 18d

gman1492
Level 1

Estimated Tax : First Payment

Thanks so much!!  That was exactly the information I needed! Great instructions! 

ps. I also stumbled upon Schedule 3 Line 8 where it shows you estimated taxes paid AND refund applied as a total number. It is easy to then work backwards and check my math.

 

Thanks again!!

 

Gman1492

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