Before filing TurboTax tax return, how do we specify partial taxes paid for current year Form 1040?

[crimson91]

I would be owning taxes this year. Before I could file the TurboTax tax return (still waiting for some tax forms), I paid partial taxes online via IRS portal for Form 1040 (current tax return year).

I couldn't identify the place to specify the paid tax amount. Where should I specify the paid amount so that TurboTax will show the correct remaining balance?

[SharonD007]

You can ‌enter the taxes that you paid online this year for your 2024 taxes in the Estimates and Other Taxes Paid area of the Deductions and Credits section.

Refer to the TurboTax Help article Where do I enter my estimated tax payments? for navigation instructions. 

Enter as federal estimated taxes and change the date for the Fourth Quarter to the date you paid the taxes online and enter the amount.

The amount will be entered on Line 26 of your 1040.

[crimson91]

I paid the taxes as Form 1040, not Form 1040-ES (not as quarterly tax payments). The payment is made this week (after the 1/15 quarterly payments deadline).

I also made an another earlier tax payment for Form 4868 (extension) last month. Can I slot in the most recent tax payment amount (this week) under the extension category instead?

[SharonD007]

When did you make Tax payments with Form 4868 Extension?  You file an extension before the tax deadline to extend the filing date until Oct 15.  Did you make payments for an extension for tax year 2023 or tax year 2024?

Payments that you made toward your 2024 tax liability can be entered in the Estimates and Other Taxes Paid area of the Deductions and Credits section.

Refer to the TurboTax Help article Where do I enter my estimated tax payments? for navigation instructions. 

[crimson91]

I made the extension tax payment last month (Form 4868), for extending 2024 tax filing.

And another tax payment this week (Form 1040), not Form 1040-ES.

I am aware it will have to specify somewhere under the Estimates and Other Taxes Paid area of the Deductions and Credits section. But which is the best category?

[AnnetteB6 · Accepted solution]

There is not really a place to enter an early Form 1040 payment made prior to completing your return.  Include both of your payments (Form 1040 and Form 4868) as a payment made with your extension, Form 4868.  

Go to Deductions and Credits > Estimates and Other Taxes Paid > Other Income Taxes > Payments with Extension > Payment with 2024 Federal extension to enter the total amount that you paid.

@crimson91 

[farleylai]

I have the same question regarding prepayments having nothing to do with extension and NOT in the estimated tax category. Seems like the wording can be made clear as "Payments regardless of Extension" to be flexible.

Then a follow-up question is, by specifying the payment method with a bank account in TurboTax, is IRS smart enough to charge/refund (if overpaid) whatever left after applying the payments made earlier (posted on IRS account online)?

[MonikaK1]

If you made full or partial payment before filing the return, not with an extension. enter the payment(s) in the Federal section under Deductions and Credits, Additional Payments under Estimated Tax Payments. 

In TurboTax Online:

1. Go to Deductions & Credits
2. Select Estimated Tax Payments
3. Click Start or Revisit next to Federal estimated taxes for 2024
4. Scroll down to Additional Payments (it may not be visible from the top of the screen)
5. Enter the Date Paid and Amount Paid

@farleylai 

[farleylai]

Thanks for showing the "Additional Payments" option that allows to set the payment date. So far, two employees endorse Estimated Tax Payments and one suggests Income Tax Paid with Extension. Since the payment processor does provide options to specify whether it is for estimated tax or not, not sure if it matters with not selecting 1040-ES at the time of making the payment. Perhaps, IRS in the end just checks all the payments so far for credits.

[IsabellaG]

You are correct that in the end, the IRS simply checks all the payments so far for credits, so entering the payment as an Estimated Tax Payment (including the correct date) or Payment with Extension won't affect the outcome.