I just entered all the entries for my 2023 on turbo tax desktop app home and business.
I noticed that the underpayment penalty was wrong when calculated by turbotax. Please fix it and update the software.
Turbotax calculated the california underpayment penalty to be $688. Whereas, when I did the calculations manually following the form 5805 instructions, it was $55.
Please fix and update the software.
Another user brought this up, but the support posted some explanation about why underpayment penalty is imposed. We don't need explanation, we know why we need to pay underpayment penalty. We just need the software to get fix and updated. It was working in turbotax 2022 but not 2023.
