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A one time distribution from my IRA in Dec 2019 has generated a penalty. I am trying to fill out the form 2210, how do I check "line D"? I would rather check line C
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March 26, 2020
2:21 PM
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Retirement tax questions
You may qualify for an Exception to the Penalty.
Click this link for more info on Underpayment Penalty
.
You can Delete Form 2210 from your return and let the IRS calculate your Penalty, if any.
[Edited 03/26/2020 | 4:25 PM]
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March 26, 2020
3:19 PM
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Retirement tax questions
How being a one-time IRA distribution qualify for an exception to the tax underpayment penalty? I don't think there is any such exception. Deleting the Form 2210 will just result in TurboTax automatically recreating it.
If TurboTax is calculating a penalty, TurboTax should be offering you the option to use the Annualized Income Method.
March 26, 2020
4:17 PM