helloWorld666
Returning Member

TurboTax form 2210 Part III Penalty calculation wrong

Hi there,

 

The penalty calculation in TurboTax form 2210 is wrong.

 

I sold stocks in Q4 only, triggering capital gain, for example $1000 estimated tax is required by 01/15/2024 but I didn't pay, so I should only get a penalty for missing paying $1000 for Q4 only.

 

However TurboTax calculates the underpayment penalty assuming I missed all Q1, Q2, Q3 and Q4 deadlines. And assume I should pay estimated tax $250 in Q1, $250 in Q2, $250 in Q3, $250 in Q4, and calculates the penalty based on missing estimated tax since Q1 all the way till Q4, this is totally wrong, how to correct its calculation?

 

2nd question in Form 2210, I've chosen Part II box A, so it's not necessary to include page 2, how to delete page 2? there is no option to do so.