TurboTax calculated wrong interest penalty.

[dewdew]

Did our 2024 return with TurboTax.

TurboTax calculated an underpayment penalty of $748.

I paid it.

Just got an IRS notice stating I overpaid the underpayment penalty and they are issuing a refund.

The over payment was by over $600.

A simple calculation and TurboTax can not get it right.

I worry what else is wrong in my return and not discovered / disclosed by the IRS.

dew

[baldietax]

see similar thread on this topic below, TT calculates underpayment using Form 2210 based on the information it's been given - any difference or adjustment to 2023 tax/AGI, either carried over from your 2023 return or input under Other Tax Situations / Underpayment Penalty, could affect the minimum safe harbor amount you needed to pay; or dates on estimated/final payments will affect penalty calculation etc.  IRS calculates it based on information in their system.

https://ttlc.intuit.com/community/taxes/discussion/re-the-amount-you-owe-formula-on-1040-line-37/01/...