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Get your taxes done using TurboTax
Thank you both.
I did ran other tax situation and under payment penalty. Good news is TT is telling me I don't have underpayment penalty!
How do I pay $4 interest accrued on late TAX payment due? I mean to ask which form and box to check?
Form 1040 Line 23 is Amount you owe
and Line 24 is Estimated Tax Penalty
Option 1.
Change Line 23 on 1040 Amount owe as $504 ($500 + $4 interest), BUT it might confuse e-filing Computer Matching numbers
Send $504 debt withdraw
Option 2
Keep Line 23 as $500
Line 24 = enter $4 even though it is interest rate but I am adding it in Penalty Box
Option 3
Keep Line 23 as $500 which is correct amount
Line 24 Blank
But Send $504 (it is easy if I send check or do it in Treasury direct website)
How would I handle this in Debt withdraw? I never been in this situation. Not sure in debt withdraw one has to enter amount or IRS will take out Amount owe to them listed in Line 23 on form 1040.
By the way where do you enter debt withdraw from Bank info in TT?