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Conflicting Instructions regarding Tax Penalty Form 2210
over here
it says
Generally, most taxpayers will avoid this penalty if they:
1. either owe less than $1,000 in tax after subtracting their withholding and refundable credits,
2. or if they paid withholding and estimated tax of at least 90% of the tax for the current year
3. or 100% of the tax shown on the return for the prior year, whichever is smaller.
but form 2210 does not capture cases 2 and 3
how do I enter the information for case 2 in TT:
if they paid withholding and estimated tax of at least 90% of the tax for the current year
I paid estimated tax to avoid the penalty and now there is no way to get that benefit. TT does not consider that my withholding + estimated tax payments is greater than 90% of tax due
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‎February 24, 2025
1:40 PM