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April711
New Member

For purposes of figuring underpayment penalty, you may elect to treat the tax withheld as paid when it was actually withheld. Do I say yes or no

This is a question from Turbo tax after it told me that I have an underpayment penalty.
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1 Reply
DavidD66
Expert Alumni

For purposes of figuring underpayment penalty, you may elect to treat the tax withheld as paid when it was actually withheld. Do I say yes or no

You probably want to say no.  Saying yes means you are going to enter all of your tax withholding by entering the amount and date withheld.  If you say no, the program assumes it was withheld equally throughout the year.  In other words 25% in first quarter, 25% in second quarter, etc.  

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