Can I pay 2019 taxes due using excess that has been withheld in 2020?

I owe a substantial amount for 2019 because of unexpected capital gains that occurred late in the year, so estimated taxes were not filed. In early 2020 20% was withheld from a very lage IRA distribution that will not be needed for 2020 taxes because the majority of that distribution was then rolled over, so it is tax free. Is there any way to apply the excess that has been withheld in 2020 to the amount that will be owed for 2019 taxes?

161

Expert Alumni

Mar 15, 2020 3:09:14 PM

It's extremely unlikely that the IRS would allow such a transaction.

You're welcome to contact them using the IRS Phone Numbers in the IRS' Let Us Help You page, but it's not likely to help.

That said, you might consider filing an installment agreement with the IRS, as long as you haven't filed your return yet.

Please see the TurboTax Help article “Can I file a Form 9465 (Installment Agreement Request) in TurboTax?” for guidance.

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Can I pay 2019 taxes due using excess that has been withheld in 2020?