why is turbo tax issuing a 1040v when getting a refund

Forum|Forum|4 years ago
March 4, 2022
2 replies
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Best answer by VolvoGirl

Is it a 1040V or the four 1040ES? THOSE ARE NOT FOR YOUR TAX DUE.

The 1040ES are estimates for next year. The 1040ES quarterly estimated tax payments DO NOT get sent to the IRS or state with your return. They are optional to pay. Turbo Tax is very conservative and doesn't want you to owe too much next year. They might have printed out if you got a one time large income this year. Like if you took a IRA or 401K distribution. You can ignore them. You might want to adjust your withholding at work so you won't owe too much next year.

ZoltanB45

Are you sure you are getting a Federal refund or are you looking at the combined Federal Liability and State Refund amount?

If you are indeed due a federal refund, I am assuming there is no amount on the payment voucher. If that is the case disregard it.

datrevAuthor

Yes, it is clearly a federal refund of $108, thus the reason for my question. Is this something new Turbo Tax is doing. It had the 1040v filled out with an amount each quarter. Please explain.

VolvoGirl

Employee

Better double check your 1040. A Refund is on line 35a and a tax due is on line 37.

Before filing, You can preview the 1040 or print the whole return

https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-filing/00/26160

How to get a copy after filing

https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-get-a-copy-of-a-return-i-filed-this-year-in-turbotax-online/00/25932

datrevAuthor

Definitely a refund and not a payment due. Is this something new as I also received a refund last year and no 1040v was issued with amounts filled in, but this year it did. Please explain.