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ctree63
New Member

What does it mean when it says apply overpayment to 2020?

 
9 Replies
DMarkM1
Employee Tax Expert

What does it mean when it says apply overpayment to 2020?

"Overpayment" is another way of saying refund.  The question is asking if you want your refund to go toward paying your taxes for tax year 2020.

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VolvoGirl
Level 15

What does it mean when it says apply overpayment to 2020?

An overpayment is your refund. You can have them keep all or part of your refund as an estimated payment towards next year's tax return. But most people want to get their refund now. So to get your refund now do not say to apply it to next year.

petetbs
Level 1

What does it mean when it says apply overpayment to 2020?

In Est Tax Options form, won't let me make an entry in Last Year's tax applied, even though I chose to have a portion of the refund to 2020 tax payment on Form 1040, line 22. It indicates the entry is calculated, should I override?

erun
New Member

What does it mean when it says apply overpayment to 2020?

I have the exact same question, where can I enter the amount from Line 22 on the 2019 Form 1040 in the 2020 return? The 2020 Estimated Payments section has the following statement:

 

Do not enter payments made in 2020 for your 2019 tax return or any 2019 overpayment applied to this year's return.

 

The same statement is given for the State estimated payments. This begs the question, where are the overpayments from 2019 applied in the 2020 forms?

erun
New Member

What does it mean when it says apply overpayment to 2020?

Right or wrong, the way I solved this issue was to click on the "+ Add another payment" button at the bottom of the dialog and then I entered my overpayment amount in the Additional Payments section that popped up.

KrisD15
Employee Tax Expert

What does it mean when it says apply overpayment to 2020?

Scroll under Estimates to "Income Tax Paid" and Click Add/Edit to open drop down. 

Scroll down to "2019 Refunds Applied" 

 

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DawnC
Employee Tax Expert

What does it mean when it says apply overpayment to 2020?

If you enter the payment (2019 refund amt applied to next year) in the 'Applied Payments' area and you used TurboTax last year, the amount should auto-populate.    You can find this in the Deductions and Credits section.   

 

Look for the category Estimates and Other Taxes Paid.   

Then click Start next to Other Income Taxes.

Scroll down to 2019 Refund Applied to 2020.

Click Start next to 2019 refund applied to federal taxes.

 

If you also applied your state refund to 2020, those are entered right under the federal payment.   State overpayments are applied to state returns from the federal entry screen.    @erun

 

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rhspasmt
New Member

What does it mean when it says apply overpayment to 2020?

The screen image showing "2019 Refund Applied to 2020" is clearly the answer I seek however this section is simply not available to me. How do I get it to display?   FYI: Am a new user of TurboTax so it cannot autofill this from my 2019 tax records.  

DoninGA
Level 15

What does it mean when it says apply overpayment to 2020?


@rhspasmt wrote:

The screen image showing "2019 Refund Applied to 2020" is clearly the answer I seek however this section is simply not available to me. How do I get it to display?   FYI: Am a new user of TurboTax so it cannot autofill this from my 2019 tax records.  


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 Other Income Taxes, click on the start or update button

On the next screen select the options under 2019 Refund Applied to 2020


Or enter refund applied to this year in the Search box located in the upper right of the program screen. Click on Jump to refund applied to this year


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

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