My state and federal refunds look too high, and I am worried that I did something wrong. I paid taxes when I filed an extension in April 2023, but got state and federal refunds in Oct 2023. There wasn't a place to add my federal refund, and I am worried that the amount I paid in April is somehow being counted incorrectly. I had an accountant do my taxes for 2022 so TurboTax doesn't have access to that return at all.
I fear I am making a big mistake somewhere; but desktop version says "no errors." I do have a kid in college and had scholarships and 529 expenses to report, but I don't see how it is possible that my return is legitimately as high as it looks.
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If you made a payment with your extension in April of 2023, that would have been for your 2022 tax return. Then, the refunds received in October would have been for your 2022 tax return as well.
Any extension payments made for your 2022 Federal return would not be reported on your 2023 tax return. So, if you did enter it somewhere on the return, you should remove that entry. Similarly, your 2022 Federal refund is not reported on your return for 2023.
Extension payments made in 2023 for 2022 state tax returns should be entered and will be included as an itemized deduction for taxes paid.
Double check your entries in the Deductions and Credits > Estimates and Other Taxes Paid > Other Income Taxes to be sure you did not enter that April payment as part of your return.
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