i have a different issue with estimated calculations using tt home and business. each of my 2021 quarterly tax payments were in excess of 110% of both my 2020 total tax and 2021 total tax, but it still says i have a underpayment penalty of $42?
it keeps coming up as a error when i run error check?? is it because the form 2210 is not current?
is there any situation where you still are underpaying even if you exceed 110% of both the 2020 and 2021 total tax bill?? my income was very uneven over the year, but my payments all exceeded 110% of both 2020 and 2021 total tax due so i didn't think my higher income quarters have any impact?
if i just surrender and pay the underpayment penalty so i can get my taxes turned in, is that a red flag when it shows underpayment (even though i've clearly not underpaid)?? the penalty is insignificant, but i'm not sure of the ramifications of throwing in the towel and paying the penalty even though i know i didn't under pay? seriously irritated, any help would be appreciated.
