Yes, you are correct. Form 2210 was in draft form through February 4, 2021. TurboTax is working diligently to add this form as soon as possible.
Keep in mind, if you owe less than $1,000, you are allowed to remove this form completely. See: Topic No. 306 Penalty for Underpayment of Estimated Tax.
To delete a form, follow these steps:
- From the left menu, select Tax Tools.
- Select Tools.
- Scroll to Delete a Form.
- Scroll to Form 2210 and select Delete and Delete Selected Form and Continue.
Form 2210 is for reporting income that was earned unevenly to correct the IRS default assumption that income was earned, and therefore taxable, evenly throughout the year. This form is also impacted by due dates for estimated tax payments.
Federal income tax estimates for first and second quarter were not due until July 15, 2020 whereas states changed their estimates differently.
To review how to enter these details in TurboTax and reduce any penalties as low as possible, do a search for underpayment of penalties and click the Jump to link. For more details, see: How do I add Form 2210?
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