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Level 1
posted Jul 11, 2023 3:52:49 PM

When I filed my extension, I paid the Federal due fully. Today (July) I logged in and TT said $147 due. I have not adjusted any data. Is there a way to trace it?

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4 Replies
Level 15
Jul 11, 2023 4:00:33 PM

Does the extension amount you paid show up on 1040 line 31 (from schedule 3 line 10)?  The extension amount is usually just an estimated amount you will owe when you file the 1040.   Do you have an amount on 1040 line 38 for a penalty?  

Level 15
Jul 11, 2023 4:34:47 PM

I am sure it was for the estimated underpayment penalty based on you filing/paying today ... the program doesn't ever know if you paid the original balance due on the return. 

Level 15
Jul 11, 2023 4:50:40 PM

If your extension payment did not automatically show up on 1040 you need to enter it. So make sure it's not already there before you enter it!

 

Federal Extension payments should be on schedule 3 line 10. And go to 1040 line 31.

 

You can type estimates paid in the search box at the top of your return and click Find and it will give you a link to Jump To the screen where you enter Extension Payments.

 

To enter the amount you paid with an extension (including state extension) go to

Federal Taxes (or Personal for desktop H&B version)

Deductions and Credits

Then scroll way down to Estimates and Other Taxes Paid

Other Income Taxes - Click the Start or Update button

 

Next page second section Payments with Extension

Either Visit All or Click Start or Update by the extension you paid

 

FOR A PENALTY ON LINE 38

You might be able to eliminate it or at least reduce it. You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select Start by the Underpayment Penalties. You will answer a series of questions that may reduce or eliminate the penalty. Or you can elect to have the IRS figure the penalty for you. It's form 2210.


It's under

Federal or Personal (for Home & Business Desktop)

Other Tax Situations

Additional Tax Payments

Underpayment Penalties - Click the Start or update button

Level 15
Jul 11, 2023 8:25:36 PM

If you have $147 on Line 38, that is a penalty for under withholding, "Estimated Tax Penalty".

Since you have an extension there is no late filing penalty unless you miss the Oct 15 deadline.

@davidyal