How do I enter a Prepayment made AFTER January 15, 2024 for 2023 taxes?

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Anthony
Anthony Member Posts: 4 Newcomer

If I prepay my taxes using payment processor payUSAtax AFTER January 15 and I still haven't completed my 2023 tax return, how would I enter the payment in FreeTaxUSA during filing? I've never done a prepayment before and I'm new to FreeTaxUSA. Thanks!

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Answers

  • KristineS
    KristineS FreeTaxUSA Agent Posts: 109
    edited April 6
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    Hi Anthony,

    Unless you indicated your pre-payment as an estimated tax payment when you made it, there is not a place to indicate this in our software.

    When you file your tax return with the balance due, and it is accepted and processed, the IRS will use the credit in your account (the pre-payment you made) and apply that to the balance due. It happens automatically.

  • Anthony
    Anthony Member Posts: 4 Newcomer
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    If I still want to make another prepayment before filing, what payment category would I select? "Form 1040 Current Tax Return 2023" or "1040 E-S - Estimated Tax"

  • Anthony
    Anthony Member Posts: 4 Newcomer
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    I chose to designate the payment as "Form 1040 Current Tax Return 2023" using a credit card. I made a large overpayment that is more than enough to cover my actual taxes owed. What steps do I need to take to get the overpayment refunded by the IRS? I made the overpayment on April 6.

  • MatthewD
    MatthewD FreeTaxUSA Team Posts: 247
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    Hello Anthony,

    That would be an estimated payment. Please make sure you go to the MISC menu for 2023 Estimated Payments and enter the amount you paid. That way it is credited to your return and you can get a refund of the overpayment