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State tax filing
Hi Lena,
Thanks for your reply and explanation. Seeing the TurboTax screen jogged my memory and you are right that I was presented with this question. I also remember finding it confusing. I was pretty sure I didn't qualify for any exceptions to the underpayment penalty, so I didn't see the point of providing more information. Unfortunately, what that meant was that I interpreted the statement "Massachusetts will calculate the penalty for you" as TurboTax will use the Massachusetts rules to calculate the penalty. I certainly did not understand it to mean that the calculation would occur after submission of the tax return and I would then get a bill!
While we strive to make accurate estimated tax payments (the penalty plus interest was under $70), it is a challenge when the final payment is due January 15th and we don't get our 1099s until weeks later.
Thanks again,
Hal