topic How does Turbo Tax calculate underpayment penalty? in Get your taxes done using TurboTax

How does Turbo Tax calculate underpayment penalty?

avonhsu424 — Tue, 10 Feb 2026 09:39:17 GMT

Hi,

I knew there is a safe harbor to avoid an underpayment penalty is to:

Aim for "100 percent of your previous year's taxes." If your previous year's adjusted gross income was more than $150,000 (or $75,000 for those who are married and filing separate returns last year), you will have to pay in 110 percent of your previous year's taxes to satisfy the "safe-harbor" requirement.

My question is:

How do I let Turbo Tax know my previous tax?

Thank you in advance for your assistance!

Regards,

Avon

Re: How does Turbo Tax calculate underpayment penalty?

DoninGA — Tue, 23 Jan 2024 16:59:45 GMT

Click on Federal Taxes (Personal using Home & Business)

Click on Other Tax Situations

Under Additional Tax Payments

On Underpayment Penalties, click the start or update button

Re: How does Turbo Tax calculate underpayment penalty?

Mike9241 — Tue, 23 Jan 2024 17:13:48 GMT

@avonhsu424 if you used Turbotax in 2022, that information should have been imported when you started 2023. you do have to be in the same account as 2022

Re: How does Turbo Tax calculate underpayment penalty?

avonhsu424 — Tue, 23 Jan 2024 18:07:39 GMT

Hi @Mike9241 ,

I have two Turbotax accounts. How do I figure out what account I used when filing 2022 tax in Turbotax? I used a desktop version (premier on Mac) for filing 2022 tax.

Thank you!

Regards,

Avon

Re: How does Turbo Tax calculate underpayment penalty?

CatinaT1 — Thu, 25 Jan 2024 15:25:42 GMT

This will help: Access your TurboTax Account, there is also a link at the bottom of this article that might help - I received an email about using different TurboTax accounts