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malargent
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Reporting of 2018 Federal Taxes Paid in 2020 via IRS Installment Payment Plan - How to do this in 2020 TurboTax Software

How do I report 2018 Federal tax obligation paid via IRS installment plan in 2020, and how do I report the amount of my 2019 Federal tax refund that was deducted by the IRS to pay off my 2018 Federal tax installment payment plan?

 

In 2018, my Federal tax bill was more than I could pay, so I set up a payment plan with the IRS.  I made payments against it in 2019 and for the first two months of 2020 - until I completed my 2019 taxes & received my federal tax refund. 

 

I made two, $100 installment payments in the first two months of 2020, and $1,455 was deducted from my 2019 tax refund to pay off the installment loan.

 

I assume I'm allowed to claim these amounts as prior year federal taxes paid in 2020, but I don't see how I account for those payments and the deduction in 2020 TurboTax. 

 

How do I do that?

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2 Replies

Reporting of 2018 Federal Taxes Paid in 2020 via IRS Installment Payment Plan - How to do this in 2020 TurboTax Software

Federal taxes owed and paid for a prior tax year are not entered on a federal tax return.

malargent
New Member

Reporting of 2018 Federal Taxes Paid in 2020 via IRS Installment Payment Plan - How to do this in 2020 TurboTax Software

Gotcha.   Thank you for the swift response.

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