I filed a federal and state extension in May and overpaid my estimated taxes to avoid any late payment interest. Now I am trying to complete my taxes but TurboTax still indicates that I owe the full amount and upon filing I am asked to make payment. I've checked and I have entered my extension payment into TurboTax. How can I get the software to indicate that a refund is owed to me and to therefore ask for my bank details?
When you requested your extension you were supposed to pay your estimated tax due. Did you enter the payment you made into your tax return? Go to Federal>Deductions and Credits>Estimates and Other Taxes Paid>Other Income Taxes
Yes, I entered the amount paid when filing the extension in the 'Payments with Extension' section. I would expect once entered the amount owed shown on TurboTax would adjust, but it isn't reflecting. Any ideas?
Does the extension payment show up on schedule 3 line 9? And go to 1040 line 31. Better check all your income, deductions & credits. Check all the lines on your return.
@emilydeng wrote:
Yes, I entered the amount paid when filing the extension in the 'Payments with Extension' section. I would expect once entered the amount owed shown on TurboTax would adjust, but it isn't reflecting. Any ideas?
If you entered the payment made with the extension correctly then it would show up on your Form 1040.
The federal extension payment will be shown on Schedule 3 Line 9. The amount from Schedule 3 Part II Line 13 flows to Form 1040 Line 31
Does the extension payment show on the Schedule 3 and the Form 1040?
You can check to see if the amount is on your tax return by clicking on Tax Tools on the left side of the screen. Then click on Tools. Click on View Tax Summary. Then click on Preview my 1040.
I actually ended up calling TurboTax and basically had to remove, re-enter and hit done and done multiple times before my total tax due amount changed. Sounds like there is a known glitch with this section, so FYI for others that might notice the same issue as everyone is looking to finalize by next week!
Here is a trick I like to use: to to the upper right on the top blue bar and click on Forms View. Then on the list of forms to the left, click on Form 1040. On the form, go to line 26 and right click on amount line, QuickZoom. Go to line 9 and enter the amount paid with the extension if it is not showing. Finish by clicking back to Step-by-Step on the blue bar.