Question on Amount Paid with Taxes

Indicate you paid the $1,000 with Form 4868. What's important is that the $1,000 payment shows up on line 69 of your 2007 Form 1040.

Condor

I am not a Taxcut user. I have to assume that Taxcut is asking the question in order to determine if you made a timely payment. Payment should be sent prior to the original due date in order to avoid late payment penalties. So.. if you made that payment on or before 4/15/08, you can answer "yes" to the Taxcut question. If you paid late, you should answer "no". I would assume that upon answering "no", you will get a prompt to tell Taxcut when the payment was made. Taxcut, would then calculate your late payment penalty. You would then have the option of either including or excluding the penalty when you file the return.

Either way.. what's important is that the return reflect the amount you already paid.

That's because you're NOT supposed to use a 1040-V for payments other than the balance due listed on your 1040.