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mlopes
New Member

does turbo tax recognize the tax payment I made for owed taxes on 2021 return?

I owed taxes last year. When I log in this year and it gathers my information from last year's return does it recognize that that money was paid to the IRS? Or do I need to input that into this  year's return somewhere?

 

Thank you.

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4 Replies

does turbo tax recognize the tax payment I made for owed taxes on 2021 return?

The money you paid to the IRS for a previous year’s federal tax return is not deductible, so you do not enter it anywhere on your 2022 return.  If you paid taxes due in 2022 to your state or local government, you can enter that by going to Federal> Deductions and Credits> Estimates and Other Taxes Paid> Other Income Taxes.  You can enter the taxes you paid, but do not include any penalties or interest.

 

There are six states that allow you to enter the federal tax you paid on your state return--Alabama, Iowa. Louisiana, Missouri, Montana, and Oregon.  If you are filing in one of these states watch for the deduction when you prepare your state return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

does turbo tax recognize the tax payment I made for owed taxes on 2021 return?

except for certain states. the payment of federal taxes in 2022 for 2021 does not need to be reported and has absolutely no effect on federal income taxes for 2022

mlopes
New Member

does turbo tax recognize the tax payment I made for owed taxes on 2021 return?

@xmasbaby0 I do understand that taxes paid are not deductible. I am wondering if since the software pulls from last year's return, which states I owe xxx amount, does this year's software recognize that that debt to the IRS has been paid or do I need to enter in the space you pointed out, thanks for that BTW.

 

does turbo tax recognize the tax payment I made for owed taxes on 2021 return?

@mlopes TurboTax never knows how, when or even if you paid your tax due.  Your account will always just show the result of the tax return you prepared using the software.  The IRS or state do not tell TT if you paid your tax due.   Your only proof that you paid is your own bank or credit card record.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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