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2025 Underpayment calculated for Colorado estimated taxes due
The Colorado instructions for estimated taxes tells you that your Tax liability should not be reduced by the Sales Tax Refund. See the Colorado Individual Income Tax Guide Revised March 2024 Part7 'Estimated Tax Payments' Subpart 'Net Colorado Tax Liability'. Unfortunately, Turbotax is reducing the required amount by that refund. This results in an underpayment of 2025 estimated taxes.
If you are aware of this problem it can be bypassed by selecting a custom amount and doing the math yourself.
How can I make TurboTax aware of this issue?
Thanks.
March 21, 2025
10:11 AM