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hbecker19
New Member

It asks if I want to apply my refund to next years returns and I don’t k ow if I should or not I looked at the learn more tab but I’m still confused. Should I apply my return to my next year

 
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Kat
Level 15
Level 15
Intuit Approved!

It asks if I want to apply my refund to next years returns and I don’t k ow if I should or not I looked at the learn more tab but I’m still confused. Should I apply my return to my next year

You have a refund coming after you file your return.  What this question is asking is if you'd like to apply this refund toward your 2020 tax liability.  If you say yes, you won't receive the refund, but the refund will be added to your account and applied toward your 2020 taxes due.

 

Most people choose to receive their refund now, and deal with next year's tax liability when it comes.  But the choice is yours.  If you want to receive your refund now, answer NO to the question.

 

 

*Please click the thumbs-up icon if this response was helpful.
**Please click "Mark As Best Answer" if your question has been resolved. Thank you.

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***

View solution in original post

1 Reply
Kat
Level 15
Level 15
Intuit Approved!

It asks if I want to apply my refund to next years returns and I don’t k ow if I should or not I looked at the learn more tab but I’m still confused. Should I apply my return to my next year

You have a refund coming after you file your return.  What this question is asking is if you'd like to apply this refund toward your 2020 tax liability.  If you say yes, you won't receive the refund, but the refund will be added to your account and applied toward your 2020 taxes due.

 

Most people choose to receive their refund now, and deal with next year's tax liability when it comes.  But the choice is yours.  If you want to receive your refund now, answer NO to the question.

 

 

*Please click the thumbs-up icon if this response was helpful.
**Please click "Mark As Best Answer" if your question has been resolved. Thank you.

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***

View solution in original post

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