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I have the same issue. My income is uneven throughout the year, and I received a major chunk of income in August 2024. After entering all the numbers TurboTax asks, the underpayment penalty stays the same.    Does anyone know how to fix this issue?

Thank you for the suggestion.  I tried that but it did not work.    Last year, after Intuit got rid of the budget software 'Mint', they transferred everyone over to 'Credit Karma'.  After reviewing the credit karma website, it was clear it was NOT a good budgeting software so I deleted my account.    I'm guessing this is why everything else is messed up with my Turbo Tax account.  So frustrating. 

I use turbotax desktop version.  Instead of using step by step filing, go to top-right corner, click on the forms, look for the rental property Schedule E work sheet, check line 21 and 22 numbers, that is your loss and allowed loss.  In the carryovers to 2024 Smartwork sheet, that is QBI value calculated from previous years. Check all previous years QBI and carry over, to see if there is any left over to 2024. You can see QBI tracking sheet of previous years following this table.  I saw Turbotax do messed up on 2018/2019 but correct later on. Don't know why the software messed up again this year. In my case, previous two year QBI number is zero, so I can set my QBI number, error check identified cell, to zero.

No, and you don't want to do that because the solar credit will carry over to future years.   If you can't use all of the credit because of the tax liability limit (that is, line 14 is less than line 13), you can carry the unused portion of the credit to 2025.   File this Form 5695 even if you can't use any of your credit in 2024.

On your tax return enter the your name that is on your current Social Security card.  The name on your tax return and the name on your tax forms, W-2 and/or 1099, do not have to match, only the SS number must be the same.

Hello,   Just following up with this. As said, birthday is fine, and I am using TT Desktop Premier 2024. While it is my current understanding that my son shouldn't receive the AOC as he hasn't earned more than half of the expenses; I started a new return in TT from scratch and it is still giving me the same $1K credit. TT is set with the understanding that no one else will be claiming him as dependent as part of that scenario. I must be missing something along the way as I'd think the software should pick on it.    I also went to the IRS Interactive Tax Assistant and after answering some questions which didn't include the half support interestingly enough, it is telling me that he'd eligible for the AOC but not for the lifetime learning credit. Please see below the questions/answers of the interactive tool.    While I am still a bit confused, I will go ahead and claim my son as a dependent to avoid any issues and show that he is claimed as a dependent on another return as part of his return, which I know won't show the AOC credit on his return as I have run through that scenario as well. As my wife and I are over the income limit, we won't be able to get the AOC credit either.    Any additional thoughts would be certainly appreciated.   Thanks again!    

Assuming that you had to make capital improvements to your rental property, follow the directions to enter your rental income and expenses. At some point you'll come across the Here's [your property's] rental property info screen. Under Expenses / Assets (Depreciation), select Add expense or asset and follow the interview instructions. TurboTax will figure out which depreciation method works best for you.   Refer to the TurboTax Help article How do I handle capital improvements and depreciation for my rental? for more information.

Can you clarify where in the process you are receiving this message? This thread is from last year so it's hard to determine where in the process you are.   Here are a few suggestions to help if you are having issues completing your return. Make sure your program is updated.  If you are using TurboTax Desktop, log back into your product.  Select Online in the menu on the top, and then select Check for Updates.   If that does not update your program, you can also manually update your program. See TurboTax Desktop troubleshooting steps for additional assistance. If you are using TurboTax Online, try clearing your cache.   If you are using a Mac, see this link for possible solutions to assist.   @jaxbchkim