Skip First Level Navigation | Skip All Navigation

Home > FAQ's > Form 1099 FAQ's > FAQ Detail

07. I did show an overpayment on my Maine return that I filed last year, but I had the money applied as a credit to the next year’s return. Since I didn't get a refund, do I still have to report this?

You must report the overpayment applied as a credit the same way you would report a refund. Both refunds and credits are considered overpayment transactions. The application of the overpayment to another tax year doesn't change the fact that you had an overpayment for the year on your tax return. Even though you didn't actually receive a check, an overpayment transaction took place, and you are subject to the same federal reporting requirements as if you had received a refund check.