Amount overpaid vs. amount refunded

[bhart0308]

What would cause the amount to be refunded (line35a on 1040) to be different from (less than) the amount I overpaid (line 34 on 1040)? It appears that those lines are calculated in TT so I can't change them.  Anyone have any idea how to get this corrected as I would like all the $$ I overpaid to be refunded!  Thanks.  

[DavidD66]

Is there an amount on line 36 - Amount of line 34 you want applied to your 2025 estimated tax...?  Any amount entered there will reduce the amount on line 34a.  

[VolvoGirl]

Or you have a penalty on line 38.  That is subtracted from line 35a.  

To change the entry on line 36 you made to apply your  Federal refund to next year

Federal Taxes Tab or Personal (H&B version)

Other Tax Situations

Additional Tax Payments

Apply Refund to Next Year - Click the Start or Update button and answer NO or delete the amount.

[bhart0308]

Thank you for the response.  It was a penalty on line 38, tho I have no idea WHY it was there.  I had overpayments in 2023 and 2024, so not sure why this appeared this time.  Thanks for pointing out where the difference was. 

[VolvoGirl]

You might be able to eliminate it or at least reduce it.  You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select Start by the Underpayment Penalties. You will answer a series of questions that may reduce or eliminate the penalty. Or you can elect to have the IRS figure the penalty for you.  It's form 2210.

It's under

Federal or Personal (for Home & Business Desktop)

Other Tax Situations

Additional Tax Payments

Underpayment Penalties - Click the Start or update button

[bhart0308]

Hi VolvoGirl, 

Thanks for the info!  I was able to eliminate it.