ssel
Level 3

California Form 5805 (Underpayment Penalty) uses incorrect interest rates

The penalty is supposed to be calculated at 8% of the underpaid amount through 6/30/25, plus 7% of the underpaid amount from 7/1/25 onward.  TurboTax reversed these numbers:  it is actually computing the penalty using 7% though 6/30 and 8% afterward.