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Deductions & credits
I would not clear and start over. You either owe a penalty for underpayment of estimated tax, or you don't. TurboTax would not calculate a penalty if you didn't have an underpayment and have tax due. Switching between the Standard Deduction and itemized deductions would not trigger a penalty calculation. I can't explain why you didn't see it before switching between itemized and the standard deduction. The IRS will calculate any underpayment penalty you may have, whether you include it on your tax return or not. If you include one, and don't owe it, the IRS will send you a refund. I would trust the program and go ahead and file.
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‎February 4, 2024
3:56 PM