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Turbotax says I have a tax liability from 2020.I paid in full $1800 last year.There is a $29 penalty.What is going on and how do I address it?No letter from the IRS.

 
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4 Replies

Turbotax says I have a tax liability from 2020.I paid in full $1800 last year.There is a $29 penalty.What is going on and how do I address it?No letter from the IRS.

Where are you seeing a $29 penalty?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
rjs
Level 15
Level 15

Turbotax says I have a tax liability from 2020.I paid in full $1800 last year.There is a $29 penalty.What is going on and how do I address it?No letter from the IRS.

Please keep your related questions in one thread. If you want to add more information or post a follow-up question, add a reply to your original question. Do not post separate questions about the same issue. It's too confusing and hard to follow, and hard to see the whole picture, if information is scattered in multiple threads.

 

Turbotax says I have a tax liability from 2020.I paid in full $1800 last year.There is a $29 penalty.What is going on and how do I address it?No letter from the IRS.

the amount owed would be on line 37 which includes any penalty on line 38.  this penalty is because on a timely basis you did not pay in enough taxes to cover 100% of 2019 taxes or 90% of 2020 taxes

rjs
Level 15
Level 15

Turbotax says I have a tax liability from 2020.I paid in full $1800 last year.There is a $29 penalty.What is going on and how do I address it?No letter from the IRS.

See the replies to your January 3 post of the same question.


https://ttlc.intuit.com/community/taxes/discussion/i-m-doing-my-2021-taxes-and-it-claims-i-have-a-ta...


Please keep any further discussion in that January 3 thread. As you can see, it causes confusion and makes it hard to follow the discussion if information is scattered in multiple threads. And it wastes people's time if someone replies to one thread because they didn't see the other thread.

 

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