parv_singh
Returning Member

Get your taxes done using TurboTax

I just figured out a way to correct it. I cannot guarantee if its the correct way as I am no tax expert but I think its a logical way. 

Problem is due to rounding issues as explained in one other post. Due to a rounding issue Turbotax software t misses the last quarter value. Here is what I did. I followed a principle that I am ready to pay maybe a dollar more tax than what I actually owe. So the page where you entered withholding of all quarters just move all your cent values to last quarter.

For example if the correct values were Q1: 12.1 Q2: 15.4 Q3: 20.1 Q4: 5.4

Rather than entering above values you enter 

Q1: 12 Q2: 15 Q3: 20 Q4: 6

That was your total holding value matches and it work.

 

If you enter 'correct' values, Turbotax will make it or something like (I am contiously making it simpler): Q1: 12 Q2: 15 Q3: 20 Q4: 5 and your overall holding in form 2210 will be lower than what you really entered.

 

By taking that one dollar forward you are saying to uncle Sam that yes I paid few cents less to you but in the end quarter my calculations are correct and pls charge me whatever you want to. Max $1 difference if there is but you'll be able to move forward. 

 

Again, I am no tax expert but seeing that Turbotax is not replying, I had to look at it deeper. Thank you