Question

Did not put the estimated taxes I paid on my return.

Forum|Forum|5 years ago
March 6, 2021
2 replies
0 views

I paid estimated short-term capital gains tax for year 2020. I paid this to the IRS and State last year. I just filed my return for 2020 and did not put the estimated payment amount I made in my tax return. Do I need submit an amendment when it's available? Or will the IRS/State adjust my taxes (i.e. will they have the payments I made on file and make the correction?).

ColeenD3

You should amend. You don't want to assume that the IRS will catch it.

If you made estimated tax payments in 2020 towards your federal, state, or local taxes, enter them in the Estimated and Other Income Taxes Paid section.

With your return open, search for the term estimated tax payments.
Select the Jump to link.
Choose Start next to the type of estimated tax payment you'd like to enter.

D

druchii5Author

Thank you--although, seeing as I filed and submitted my return already, I assume I won't be able to amend until the amendment form is ready on 3/25/21, correct? Thank you again! @ColeenD3

JohnB5677

I think I have good news.

If you made estimated payment and did not record them on your return. The IRS will automatically add them to your return and adjust the amount you owe, or your refund accordingly.

At this point just wait. If you're getting a refund it will be bigger. If you owe it will be less and the IRS will send you a letter.

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