At the beginning of April / 2014, I paid in the full amount of my 1040-ES for the 2015 year. I also paid what I thought would be my total taxes owing for 2014 using 1040-V.
When I finalized my taxes, I forgot I already had a prepayment from the previous year (2013 refund applied to 2014) and therefore 2014 taxes had a refund balance.
So my situation:
1. money from 2013 1040 applied to 2014 taxes
2. money sent in paying expected 2014 1040-V amount in early April
3. money sent in paying expected 2015 1040-ES amount in early April
4. refund money on 1040-V calculated in mid April applied to 2015 taxes
On the 2015 Estimated Tax Worksheet, I can see the positive balance from the 2014 1040 plus my prepaid 1040-ES submitted no problem.
My question is, in 2015 how do I apply the early April 1040-V payment? (ie: money paid for expected 2014 1040 taxes but was wrong as had a refund amount when later calculated and applied to 2015 taxes)?
Aside from a dumb move on my part, can anyone shed light on where to put that early April 1040-V payment?
Thanks.
US 1040-V and 1040-ES overpayment on 2014 taxes
Moderator: Mark T Serbinski CA CPA