After submitting my 2024 Colorado taxes, I was informed that I was being assessed a $100 penalty for underpayment of estimated taxes. I appealed, and speaking with a Colorado tax examiner, the problem was that Turbotax did not fill out Colorado form DR 0204 correctly. I used the "Annualized Installment Method", and Turbotax did not fill out part 3 of the form ("Penalty Computation") correctly. As shown on lines 7-8, I over-paid my estimated taxes in each quarter, so I should not owe a penalty. Turbotax left lines 10-18 blank, but filled out line 19 stating that I owed no penalty. This form was rejected because the calculations showing that I owed no penalty -- lines 10-18 -- were all left blank.
