A question came up when I initially did the Oregon taxes to ask if income was consistently earned during the year. I answered 'yes' but that is not so and I need to get back to the question.
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You were probably in the section of the OR interview dealing with the underpayment penalty. To get back there, please follow these steps:
[Edited | 4/13/2020 | 12:28 pm PDT]
You were probably in the section of the OR interview dealing with the underpayment penalty. To get back there, please follow these steps:
[Edited | 4/13/2020 | 12:28 pm PDT]
Is there a form I need to fill out in Federal and Maryland Income Tax return to indicate uneven quarterly income. My RMD came in at the end of the calendar year in a lump sum. That makes my early quarterly estimate tax too low.
Are you filling out for the underpayment penalty or to figure quarterly estimates for 2019?
For penalty....
You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select Start by the Underpayment Penalties. You will answer a series of questions that may reduce or eliminate the penalty. Or you can elect to have the IRS figure the penalty for you. It's form 2210.
It's under
Federal or Personal (for Home & Business Desktop)
Other Tax Situations
Additional Tax Payments
Underpayment Penalties - Click the Start or update button
If you have the desktop program you can switch to Forms Mode (click forms in the upper right (left for Mac)) and open the 2210 form.
To prepare Estimates
You can just type W4 in the search box at the top of your return, click on Find. Then Click on Jump To and it will take you to the estimated tax payments section. Say no to changing your W-4 and the next screen will start the estimated taxes section.
Or Go to….
Federal Taxes or Personal (Deskop H&B)
Other Tax Situations
Other Tax Forms
Form W-4 and Estimated Taxes - Click the Start or Update button
Thanks. I do not owe penalty tax in the federal tax return, but in the Maryland Tax return. I thought the income distribution information is entered in the federal return. But if that is for Maryland Tax return, where can I find it?
Also I superfunded a 529 account and need to file form 709. I look in the form tab and cannot find Form 709. How do I file Form 709 in Turbo Tax?
709 is a Gift Tax Return if you make a gift to someone. Turbo Tax does not have or support 709 return.
Here is a blank form 709….
http://www.irs.gov/pub/irs-pdf/f709.pdf
And the instructions….
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