I filed for an extension earlier this year through TurboTax and was approved. I even paid taxes in advance so I wouldn’t be penalized for owing any taxes. Now that I’m completing my taxes, the TurboTax software said I need to review Line 7 of Form 4868. I’m not sure why I even have this form if I was already approved for an extension and I have no clue what to enter in that box? Please help!
DId you pay through Turbotax an amount with your request for extension?
Probably not, otherwise TurboTax would already know the amount.
You need to review your 1040 to see that you are getting credit for the amount already paid.
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
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