Safe Harbor Based on Prior Year Taxes

[Gil_B]

Hi,

Am using Turbo Tax on a trust account for the first time this year.  Between applying 2022 refund and an estimate paid in Q1, we are at 110% of last year's taxes.  But, TurboTax doesn't know this and assumes there should be a penalty based on 2023 numbers only.

How do I either enter the 2022 tax amount so TT can realize safe harbor was reached or how do I remove the penalty?

Thanks,

Gil

[Anonymous_]

Go through the Underpayment Penalty section.

[Gil_B]

Thank you!! worked perfectly 🙂

Figured it was user error somewhere...