There is a problem with the calculation of the tax penalty for underpayment in the NY state forms.
TurboTax is miscalculating the penalty.
TurboTax initially states I owe a penalty while I'm doing the federal section but when I run TurboTax for NY state it says I do not.
I know this is incorrect because when I look at form IT-2105.9 it is filled out incorrectly. It says I made an estimated payment which I did not.
TurboTax is using Part 3 – Regular method which is not necessary.
When I'm in the Federal section and before I run the state section TurboTax is using Part 2 – Short method for computing the penalty which is the correct way to do it.
Once I run the Penalties section in NY State everything goes wrong.
Can you please fix this or tell me how I can fix it.
Thank you
