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Direct Deposit of Refund/Electronic Payment

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Intuit

Direct Deposit of Refund/Electronic Payment

This article will walk you through setting up direct deposit of a refund or electronic payment of an amount due with a tax return. Click on the return type you're working on below to get started.

  1. Go to the Input Return workspace.
  2. Click on General to expand that section.
  3. Click on the Miscellaneous Info./Direct Deposit input screen.
  4. Scroll down to the Direct Deposit of Refund/Electronic Payment section.
  5. Check the box, Direct deposit of federal refund.
  6. Enter the Financial Instituition #1 information
    • Name of financial instituation (memo only)
    • Routing Transit Number
    • Depositor Account Number
    • Select the Type of Account from the drop down menu
    • Select the Type of investment from the drop down menu.

If information for more than one account is entered, then Form 8888 Direct Deposit of refund will generate with the return.If the type of account selected is IRA, the program will limit the amount deposited to the to the IRA limits. If more than one IRA account is selected, then the total is limited to the IRA limits. The limitation is computed per spouse, and can be computed using this year's or next year's IRA limits.

  1. Go to the Input Return workspace.
  2. Click on General to expand that section.
  3. Click on the Miscellaneous Information input screen.
  4. Scroll down to the Direct Deposit of Refund (8050)/Electronic Payment section
  5. Check the box, Direct deposit of federal refund
  6. Enter the Bank Information
    1. Name of bank (memo only)
    2. Routing number
    3. Depositor account number
    4. Enter a 1 or 2 in, Type of account 
  1. Go to the Input Return workspace.
  2. Click on General to expand that section.
  3. Go to the Misc. Info./Other Info./Amended input screen.
  4. Scroll down to the Direct Deposit of Refund (8050)/Electronic Payment section
  5. Check the box, Direct deposit of federal refund
  6. Enter the Bank Information
    1. Name of bank (memo only)
    2. Routing number
    3. Depositor account number
    4. Enter a 1 or 2 in, Type of account.

Related Topics

Electronic Payment of Federal Estimates for an Individual Return in ProConnect Tax Online
Setup Electronic Payment of Amount Due with ProConnect Tax Online E-file Return/Extension/Estimate

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