turbotax desktop calculated my taxes and listed an estimate penalty of $9 on line 38 of my 1040 form.
I have tried everything I can think of and all the online helps to determine how turbo tax calculated that estimated penalty but I can find nothing. No worksheet, no form in the print forms section, etc.
How does turbotax determine this penalty?
I am pretty sure the penalty is a result of a schedule K-1 estate income my wife received earlier in the year (and neglected to mention) from her parents estate. I presume an estimated tax payment was due by a certain date and of course it wasnt paid by that date (since I was unaware of the estate income).
How exactly does turbo tax determine this penalty? How do I know if its correct? Since line 38 states its an estimated penalty, does that mean it could increase(or decrease) after filing?
It would seem to me that a worksheet or form of some sort should have been generated detailing how the estimated penalty was calculated but I can find nothing in the forms.
