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New Member
posted Feb 28, 2022 8:03:10 AM

Why does the program list my estimated tax payment as income? It is a paymeny.

Payment.

0 2 822
2 Replies
Expert Alumni
Feb 28, 2022 8:19:40 AM

To enter your estimated tax payments in TurboTax:

  1. Click Start / Revisit in the Federal > Deductions & Credits > Estimates and Other Taxes Paid > Estimated Tax Payments section of your return. 
  2. Select Federal estimated taxes for 2021 (1040-ES)
  3. You can enter any quarterly payments you made and the dates you made them. These will be applied as a refundable credit on your 2021 tax return.

If something is showing up as income, that may be a 1099-G payment from your state for a refund of state taxes. This is often not included in income. If you click Edit next to this income you will be asked some questions about your prior-year return. If you took the standard deduction or did not deduct the entirety of your state income taxes on your 2020 federal tax return, then the 1099-G will not be taxable in 2021. 

 

Level 15
Feb 28, 2022 8:21:56 AM

Where is it showing up as Income?  What line on your 1040 return?  Estimates paid go on 1040 line 26.