We have withholding taken from paychecks but not enough. We did not make estimated payments. I increased withholding in Q4 '24 so will be fine this year. TurboTax competed Form 2210 but keeps telling me it is incorrect. I entered the approximate quarterly withholding from paychecks adding up to total withholding from W2s, but it says quarterly amounts don't add up. The strnage thing is that the form puts Q1 and Q2 in correct columns but then has only one additional entry field that sits between the Q3 and Q4 columns. Can anyone help me understand the correct way to complete it?
Are you using TurboTax Online? If so, I would remove the form and start over by following these steps:
If you select option D on 2210, there are four boxes for four periods of withholding that have to sum exactly to your total withholding from all sources, not just W-2.
If TurboTax gives you three boxes, I can't explain that.
Thank you. This is helpful.
I looked up with IRS that I do not need to submit this form and that the IRS will calculate the penalty and invoice me later. Does that sounds right? If so, I can just skip this form entirely in TurboTax online.
Option D may reduce your penalty. WIthout it, IRS will calculate the default penalty.