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Calculating underpayment penalties for state taxes in Maryland
For 2024, my income was concentrated to the beginning of the year as was the Maryland withholding. For my Federal return TurboTax allowed me to enter the actual quarterly tax payments to reduce the underpayment penalty, but I can't do the same for Maryland in the form 502UP. As a result I'm showing a huge interest penalty for a small underpayment. I'd like to enter the actuals for quarterly withholding on the 502UP form. Is there some way to do that?
‎April 1, 2025
10:42 AM