(as a credit) to my 2011 state estimated taxes account for the first
quarter of 2011. According to my accountant, that amount should be
included in line 10 of my (federal) 1040. However, when I try to enter
that amount on line 10 of 1040, TurboTax takes me to the State and
Local Income Tax Refund Worksheet and then to the Federal carryover
worksheet (FCW). Those two forms are very confusing: to what column of
the FCW should I allocate the amount ? f? c?
I appreciate your help
Your best bet is to enter it using the Step-by-Step
interview instead of entering it in forms mode. The
interview will walk you through it so you don't have to deal
with the confusing forms.
If you are using TurboTax Home & Business click the Personal
Tab. If you are using any other version click the Federal
Click Wages & Income.
Click Explore on My Own.
On the screen "Your 2011 Income Summary," scroll down to the
section "Other Common Income."
Click the Start or Update button for "State and Local Tax
On the screen where you enter the refund ("Tell Us About
Your State or Local Tax Refund") be sure to check the box
that says "I used my refund to help pay my 2011 taxes" and
then enter the amount that you applied to 2011. In your case
you will enter the same amount in both boxes - the refund
amount and the amount applied to 2011.
TurboTax will ask you some additional questions to determine
whether the full amount of the overpayment should be entered
on Form 1040 line 10.