DavidS127
Expert Alumni

Deductions & credits

The annualized approach may not be the best way to calculate whether you have an underpayment penalty. 

 

Go back through the underpayment penalty section of TurboTax, and make sure you have entered the 2018 tax liability and 2018 adjusted gross income correctly.  Then, choose to not use the annualized method.

 

Note also that the boxes on the annualized method are a little tricky, and that each period asks for all income earned from the beginning of the year up to that point in time in the year.

 

 

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