I submitted extension for year 2021 and payed taxes due. That resulted in overpayment of tax due according to the actual return submitted later. After I submitted a return I received a notice CP21C saying "Amount applied to 2022 estimated tax - $$$". Question: how do I enter this amount in turbotax 2022 while preparing my return? Google search suggested I need to enter it on form 1040 schedule 5 line 66. I do not see this schedule 5 in the list of forms in Turbo Tax. Please help!
In TurboTax (TT), enter at:
Federal Taxes Tab (Personal for H&B version)
Deductions & Credits
-Scroll down to:
--Estimates & other taxes paid
-Other Income taxes
On the next screen, scroll down to:
-Other income taxes paid in 2022
On the next screen:
-Payments with Extension
-Payment with 2022 Federal extension
Something doesn't make sense. When you filed the 2021 return did the extension payment show up? For 2021 Federal Extension payments should be on schedule 3 line 10. And go to 1040 line 31. Then you should have had a Refund on 1040 line 35a? Then did you have the refund applied to 2022 return on line 36?
Schedule 5 is for old tax returns. For 2022 the amount applied from 2021 goes straight to 1040 line 26 (no schedule)
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