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How to apply an overpayment to estimated tax on the 1040X amended return in Lacerte

by Lacerte Tax 2023 Updated 11 months ago

This article will help to understand how to apply the overpayment generated by an amended individual Form 1040X on Line 22.

Follow these steps:

  1. Go to Screen 59, Amended Return (1040-X).
  2. Scroll down to the Miscellaneous Information section.
  3. Select the box Apply 1040-X overpayment to 20YY estimated tax.
  4. Scroll down to the Federal Income Tax Return section.
  5. Enter the amount to be applied in Overpayment applied to 20YY estimated tax (75).
    • If the amount doesn't appear on the 1040X, continue to the next step.
  6. Go to Screen 7.1, 20YY Estimates (1040-ES).
  7. Enter the same amount in Apply overpayment to 20YY (Ctrl+T or dollar amount) under General Information.
  8. Remove any entry on Estimate options (Ctrl+T), [code 14].

Per Form 1040X Instructions, Page 10:

If you elected to apply any part of an overpayment on your original return to your next year's estimated tax, you cannot reverse that election on your amended return.

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Lacerte Tax

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