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Form 2210 Not Incorporating Form 7202 COVID Tax Credit
COVID Tax Credit for Self-Employed (Form 7202) is a refundable tax credit that figures in to the 1040 through Schedule 3--"Other Payments and Refundable Credits".
Therefore, it must also be incorporated into "refundable tax credits" on line 3 of form 2210, or it results in an erroneous penalty.
For now, I should override, right? I'm not a tax attorney or accountant...and don't even play one on TV.
I realize that tax form 2210 isn't final yet for 2020. That's not a helpful excuse when estimated taxes are due in 2 weeks. This is my best guess...am I wrong?
‎January 3, 2021
3:58 AM