Question

How do I get overpayment of $914.00 refunded? This was first estimated payment in 2020

Forum|Forum|5 years ago
February 27, 2021
1 reply
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Had very little income in 2020 so estimated payments were not paid except for first one in the amount of $914.00

TurboTax Live Premier Online

Employee

You go ahead and enter in in the Estimated Payments section on the Deductions&Credits page....and TTX will calculate what part......if any, you get refunded.

IF you had other income during the year, for which taxes were underpaid, that estimated payment will be used first against whatever taxes are due for your other income...then the IRS will refund whatever is left.

That's why you fill out a full tax return...it's your final accounting for the entire tax year.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*