How do I apply an overpayment on 2023's federal taxes to my 2024 situation?

[barber-matt-e]

Is adding to Q1 of federal estimated taxes for 2024 the appropriate way to handle?

[VolvoGirl]

No.    If it didn’t transfer over from last year, then enter a refund from last year that you applied to this year here.  BUT first make sure it’s not already there.  You don’t want to apply it twice. It will be on 1040 line 26.

Federal on left

Deductions and Credits at top

Then scroll way down to Estimates and Other Income Taxes Paid

Other Income Taxes - Click the Start or Revisit

Next page scroll down to 2023 Refund Applied to 2024

Click Start or Update by the tax you applied

[DoninGA]

If you requested on your 2023 tax return to apply the refund to the 2024 taxes, then entering that payment as a Q1 estimated tax payment for 2024 is Not how to enter that.

To enter, change or delete a refund from the prior year applied to this years taxes (Federal, State, Local) -

Click on Federal Taxes (Personal using Home and Business)
Click on Deductions and Credits
Click on I'll choose what I work on (if shown)
Scroll down to Estimates and Other Taxes Paid
On Income Taxes Paid, click on the start or update button

On the next screen select the options under 2023 Refund Applied to 2024

The prior year federal tax refund amount applied is shown on Form 1040 Line 26