To enter a payment made with an extension request -
On the next screen select the type of extension payment made and click on the start or update button
The extension payment will be shown on Form 1040 Line 70
To enter a payment made with an extension request -
On the next screen select the type of extension payment made and click on the start or update button
The extension payment will be shown on Form 1040 Line 70
As of today, if you have not started your new tax return with filling out an extension within Turbo Tax and just skipped this step, and then inputted a bunch of data, there is no way to pull in your payment and have it be part of the calculations. - Well, at least I wasn't able to do that for half a day and wasted 3 days amount editing. Then I got a tip from a dear friend who was an accountant for his entire life and suggested to start a new tax return and make an extension within the Turbo Tax with the payment amount at the very beginning.
So, if you skipped the extension at the beginning, you will have a hard time to follow other's answers.
Intuit should fix this and allow importing such an important document anytime or make it very easy to access. This is a software, which is sold for $120, should have the bar set high!!
This is a new forum layout. Some posts that have June 2019 dates are really older posts from the old forum that got moved over. So they might be for prior years and not current info. When they migrated over the dates got changed to June 2019. And the screen shots got deleted.
For 2019 Federal Extension payments should be on schedule 3 line 10. And go to 1040 line 18d.
If your extension payment did not automatically show up on 1040 Schedule 3 line 10 which goes to 1040 line 18d you need to enter it. So make sure it's not already there before you enter it!
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
Its disappointing that TurboTax doesn't input this amount automatically. After all, I used TurboTax to file FORM 4868 and to pay the estimated taxes. Its a big oversight.
Then it should have been automatically entered if you used the same account. If you manually entered it then make sure it isn't on your return twice.
I paid estimated taxes with an extension for federal and two different states. In Turbo Tax, it says for multiple states to put the total paid to those states and select "multiple states" instead of doing each state separately. Well, how does Turbo Tax know what amount to apply to each state for the estimated taxes I paid?
My old notes say.....
Since you've made multiple state extension payments, you will need to enter the total amount of state extension payments you've made. The program will enter this total on your federal return but you will need to go to each state return and enter the extension payment in the state interview for it to be accurately reported on yout state return.
For Online versions:
Although tedious and buried in TurboTax online, you can enter in payments made with extensions for multiple states. You have to go into the interview for each state and get to the section regarding filing an extension. Once there, you will need to say you are going to file an extension and then it will eventually trigger a screen asking for the payment amount you will make with the extension. Once the amount is entered it will populate on the corresponding form and you should see the TurboTax refund meter adjust accordingly.
There is a lot of misinformation in this thread, (e.g. references to form 1040 lines that don't exist, like "line 70"), and I too wasted hours trying to figure out how to get Turbotax to include the payments with Federal extension on Form 1040, and to then properly calculate the total federal tax owed or to be returned when filing, and finally succeeded.
The key is not to enter it into the "easy steps" using the additional payments area of Deductions, but rather to open up Schedule 3, go to the area for additional payments with extension, click on the field for the payment amount enter the payment into the dialog box that appears.
@rosiami The reason you see references to lines that no longer exist on certain tax forms is that the old user forum Answer Xchange was changed to Real Money Talk in mid-2019. When that change happened, a lot of old threads were migrated over with 2019 dates. Those replies could really be much older than even 2019. So you come across some outdated information sometimes. Be careful when you get into a thread that starts with a 2019 date. The information may be obsolete. Watch the dates in the posts you are reading carefully.
As few folks at the bottom of this thread stated, bunch of data here is obsolete and doesn't apply for Tax Year 2021. For this year do the following in TT Home and Business to get make it pick up the amount you paid with the federal extension:
Switch to Form View, and identify Tax Payments in the left column (list of forms), or simply click on the "Open Form" at the top of the TT screen and enter Tax Payments.
Once the form opens, look for line 9 (applies for Tax Year 2021), and enter the amount you paid to IRS when you filed the extension Form 4868 in line 9 - 2021 Extensions in Federal column.
This will trigger math that will update line 20 Total Tax Payments for 2021 to increase by that amount
Also this number will trigger TT to generate Schedule 3 which didn't exist up until this point, and you can check that it shows in line 10 - Amount paid with request for extension to file , and Line 15 (Total amount)
Few other worksheets get updated as well.
In summary, 1040 also gets updated to show this amount you paid with extension in line 31 - Amount from Schedule 3, line 15, as well as line 32 gets updated - Total Other Payments and refundable Credits and line 33 (1040 Tax year 2021) - These are your total payments get updated (increased) by the amount you paid with your extension.
I hope this helped .