Question

What does it mean when it’s asking to apply my overpayment to my 2021 tax return?

Forum|Forum|5 years ago
February 4, 2021
3 replies
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TurboTax Free Edition Online

It wants to know if you want your refund from tax year 2020 – the return you’re filing this year – to be applied toward any tax you owe for tax year 2021.

Generally, this option is used by people who make estimated tax payments during the year.

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Art Fisher

How do I apply my 2020 federal tax overpayment to 2021?

DoninGA

Employee

@Art Fisher wrote:

How do I apply my 2020 federal tax overpayment to 2021?

To add, change or delete a current year federal tax refund to next year's taxes before you file your tax return -

Click on Federal Taxes (Personal using Home and Business)
Click on Other Tax Situations
Under Additional Tax Payments
On Apply Refund to Next Year, click on the start or update button

Or enter apply federal refund to next year in the Search box located in the upper right of the program screen. Click on Jump to apply federal refund to next year

The amount applied to next years taxes will be shown on Form 1040 Line 36

P

PattiF

This TurboTax Help has instructions on how to apply the refund from 2020 to your 2021 tax return.

If you filed with TurboTax last year, this will automatically happen when you transfer your return.

If you didn't transfer your return, follow the instructions in the help article.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

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DarrenJohnWA

On Line 36 of my 2021 tax return, I elected to apply my overpayment to my 2022 payments (I make prepayments). "Where's my refund" shows that my refund ("overpayment") was sent (and a total amount), but the total amount does not show up on my irs.gov account as applied to my account. Do you know if I should expect this total to show up on my account (all of the prepayments I make show up there).

If anyone can be of help, I am grateful. Thank you.

Critter-3

On the EFTPS system you will only see the payments you made yourself thru that system... the applied refund will only be reported on your tax account transcript.