I can't figure out what Schedule or Form to link the Federal Tax category

Ken W.

In setting up the linkage to the Tax Form I can't determine what Schedule or Form to link the Federal Tax category in the Federal Income Tax/Federal Tax category list. There's no descriptor in either the Form 1040 or the Schedule A Tax Line list that seems to apply.

volvogirl

A federal tax due payment does not need a tax schedule or tax line assigned to it.  It doesn't go on your tax return.  It is not a deduction.  It should just go to a tax paid category without a tax line.

Frankx

Hi @Ken W.,

Thanks, I understand your situation now.  Since you had a balance due on your 2018 tax return, and you paid that balance due with your return in April of 2019, that payment will actually not be relevant to your 2019 tax return (unless your inadvertently overpaid your taxes which seems unlikely).  So you don't need to assign a tax line to the payment.

Frankx

@Ken W.,

What is the type of the item that you are trying to match?  Can you provide a more detailed description of the item?

John_M

I'm guessing that you are trying to show the amount withheld for federal taxes. That is on the Tax Form/Schedule called W-2. It would be the Tax Line "Federal tax withheld, self" or "Federal tax withheld, spouse." 

Ken W.

John_M: Much thanks for your answer. Unfortunately, I'm not trying to show withheld money ( I pay estimated tax throughout the year). I'll be specific, on April 16, 2019 I paid the final payment of my 2018 Federal Income tax with a check from my checking account. That's the amount I'm trying to assign a category.

Ken W.

Frankx: See my response to John_M. I pay estimated tax in four installments - that has a Category in Quicken. Finally, if I underpaid with my estimated tax payments throughout the year (in this case 2018) I must pay a final amount on April 15th of the following year, 2019. Hope this clarifies.

volvogirl

A federal tax due payment does not need a tax schedule or tax line assigned to it.  It doesn't go on your tax return.  It is not a deduction.  It should just go to a tax paid category without a tax line.

Frankx

Hi @Ken W.,

Thanks, I understand your situation now.  Since you had a balance due on your 2018 tax return, and you paid that balance due with your return in April of 2019, that payment will actually not be relevant to your 2019 tax return (unless your inadvertently overpaid your taxes which seems unlikely).  So you don't need to assign a tax line to the payment.

Ken W.

Frankx & volvogirl: OMG! Now that you say it, it makes complete sense! Color me slooow. I tried to answer the question by going to the income tax (1040, Schedule A) documents to see where you'd enter the amount and could never find a line to do so. You'd think that would have given me a clue. THANK YOU. Now I can continue having fun in working on my Income Tax! (:op

Uh oh! Frankx, I just reread you parenthetical phrase. There IS a chance I overpaid my 2019 Federal tax. What then?

Frankx

@Ken W.

In that case, you'll need to check the status of the overpayment.  If you didn't already receive a check for the overpaid amount, it likely was applied to the 2020 tax year.  You can contact the IRS about the status of your account either by phone or on-line. You'll need the following info before you call: 1) your social security number, 2) your filing status (single, married filing jointly, married filing separately, head of household or qualifying widow(er)) and 3) the amount of the refund.

As always (but especially when dealing with the tax authorities) I wish you good luck!

q_lurker

Ken W. said:

...

Uh oh! Frankx, I just reread you parenthetical phrase. There IS a chance I overpaid my 2019 Federal tax. What then?

No real difference.  If you overpaid, you are due a refund.  Just like the payment is not a future tax line item, neither is the refund.  Record the refund to an applicable category -- possibly the same one you used to record the 2019 payment.

Now if you apply that refund to next year's estimates, you might choose to treat it as a refund received and an estimated tax payment made, for a net of $0.    

[Darn it -- Here I go jumping into a Mac question again.  Process accordingly.  I am not a Mac user.]