Applying Refund to Estimated Taxes

[lcg100]

turbax premier does not appear to apply tax refund to estimated taxes (at all).

I entered the total amount of the refund ($163) and generated the estimated taxes.

To double check,  I changed the total amount to be applied to the refund to 0.

In both cases, the estimated taxes are applied to 110 per cent of the total 2019 federal taxes.

No adjustment is made to the total 2019 federal taxes before calculating estimated taxes.

Alternatively,  Turbo Tax does not adjust the first estimated tax payment (April 2020) by 163 dollars.

Anyone else have this problem? (Of course, I can manually adjust the estimated tax payment..but this seems like a turbo tax bug!!)

[JohnW222]

You might try re-entering your information.

Please see the TurboTax Help article “How do I apply my refund to next year's (2020) taxes?” for guidance.

[lcg100]

I read the help that you referenced but that didn't help.

And I tried reentering the refund multiple times.  No luck. Still not adjusting the estimated taxes for the refund.

Sigh..

[DoninGA]

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@lcg100 wrote:

I read the help that you referenced but that didn't help.

And I tried reentering the refund multiple times.  No luck. Still not adjusting the estimated taxes for the refund.

Sigh..

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To add, change or delete a current year federal tax refund to next year's taxes before you file your tax return -

• Click on Federal Taxes (Personal using Home and Business)
• Click on Other Tax Situations
• Under Additional Tax Payments
• On Apply Refund to Next Year, click on the start or update button

Or enter apply federal refund to next year in the Search box located in the upper right of the program screen. Click on Jump to apply federal refund to next year

The amount applied to next years taxes will be shown on Form 1040 Line 22

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

[zdas04]

Thank you DoninGA, I have been going in circles with the HORRIBLE information in Help.  Your instructions were clear, concise, and ACCURATE.