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impaven
New Member

I moved to US on Nov 1 2023. A total of $2468 was deducted towards federal income tax. When I inserted $2468 as estimated tax payment it showed my total refund as $4598

When I changed estimated tax payment to 0. It says my refund amount to be $2130 but also says I owe $2468. Need help with this
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4 Replies

I moved to US on Nov 1 2023. A total of $2468 was deducted towards federal income tax. When I inserted $2468 as estimated tax payment it showed my total refund as $4598

If withholdings was withheld at a source like a paycheck then you will ONLY enter the withholding on the W-2 screen.  Do NOT also enter it as an estimated payment as it was not an estimated payment.  Estimated payments would be made by you outside of any taxes being withheld.  Once you have removed the incorrect entry then review the return again and if you are still confused please post back which form and line is not clear.

 

  • click in the left menu column on TAX TOOLS, then PRINT CENTER.
  • Then choose "Print, save, view this year's return."
  • The next screen should offer some options:  "Just my tax returns", or "include government worksheets (optional)", or "include government and TurboTax worksheets (optional.)"

I moved to US on Nov 1 2023. A total of $2468 was deducted towards federal income tax. When I inserted $2468 as estimated tax payment it showed my total refund as $4598

Estimated tax payment means payments that you sent in yourself and in additon to the withholding.   You do not enter estimated tax payment unless you actually made additional payments.

impaven
New Member

I moved to US on Nov 1 2023. A total of $2468 was deducted towards federal income tax. When I inserted $2468 as estimated tax payment it showed my total refund as $4598

Thanks for the response and clarification. Out of confusion i had entered tax amount withheld as estimated tax payments. Now i'm seeing that i owe amount withheld upon trying to amend my return and changing estimated tax payments to zero. And the owed amount to be deducted from my bank account linked. 

I haven't received any update from IRS so far regarding my return. It's not rejected.
What can i do to get the refund at the earliest?

I moved to US on Nov 1 2023. A total of $2468 was deducted towards federal income tax. When I inserted $2468 as estimated tax payment it showed my total refund as $4598

Did you actually file the  original wrong return?   Was it Accepted?  When you efile you get back 2 emails. The first email only confirms the transmission. The second email says if the IRS (or state) Accepted or Rejected your efile.


When you log into your account you should also see the status and if it was Accepted or Rejected, Started, Printed, Ready to Mail, etc. What does it say?


Only the IRS or state can tell you when you will get your refund.   If your return is Accepted then check IRS Where’s my Refund?
https://www.irs.gov/refunds

 

You should wait to amend until you get the  first refund.  The IRS should catch the mistake and subtract it from estimated payments for you.  So wait and see what the IRS does and what they send you.  You might not need to amend.  If they do send  you the full $4598 then you owe back the $2468 on the amended return.  Your real refund should be $2130.  

 

The amended return will only be the difference you get back or need to pay. You can confirm this by printing your amendment and looking at the 1040X. Line 18 should be your original refund amount and line 21 should be your additional refund. If you paid on your original return it will be on line 16 (but don't include any penalty on 1040 line 38). If there is an amount owed with the amendment, it will be on line 20.

 

 

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