topic Re: Annualized Income Installation Method in Get your taxes done using TurboTax

Annualized Income Installation Method

GKappy — Mon, 17 Mar 2025 15:00:48 GMT

I did a Roth rollover in Dec 2024. Paid Estimate Tax in 1/6/2025.

Turbo Tax said will get a refund but have a small Extimated Tax Penalty I was trying to clear by

Doing the Annualized Income Installation Method

When I got to the section tittled

Date of Payment

Enter the date you paid or will pay your balance due.
We use this date to determine the underpayment penalty amount you'' be charged.
If the balance due won't be paid before the unextended file deadline of this return
you can leave this blank.

Date you'll Pay the Balance Due ....... I enter 01/06/2025

TurboTax responds in red
Date you'll pay the balance due cannot be before the current date

But it said "Enter the date you paid or will pay your balance due."

How can it NOT accept a date before the current date..... a bug?

I also posted that in a similar/same question started by MathewsII a few days ago

Re: Annualized Income Installation Method

DianeW777 — Mon, 17 Mar 2025 15:12:48 GMT

A future date must be entered in the annualization section. The payment on January 6, 2025 should be included in your estimated tax payments in the federal portion of your tax return. The final estimated payment for 2024 is January 15, 2025.

Where do I enter my estimated tax payments?

Re: Annualized Income Installation Method

GKappy — Sun, 30 Mar 2025 01:53:58 GMT

Thanks

Re: Annualized Income Installation Method

nancyus — Thu, 11 Sep 2025 02:46:51 GMT

I have same issue when computing the penalty. I didn't use the Annualized method. but for the date paid (I paid on April 5 when file extension ) cannot enter the date which the payment made.

It doesn't matter whether you annualized or not , you have to choose the date to enter. I think it's bug. Can expert confirm it?

Re: Annualized Income Installation Method

baldietax — Thu, 11 Sep 2025 12:21:04 GMT

my understanding is it's the date you'll pay what is due on your final return which will be in the future if you're still preparing to file that return. If you paid in April with extension you would input that payment under Other Tax Situations / Other Income Taxes and that will reduce the amount due on your final return. If you still owe some balance/penalty on the final return, that's the date it's asking for here, not the April date.