topic Re: Underpayment Penalty in Get your taxes done using TurboTax

Underpayment Penalty

JohnnyJohnny13 — Mon, 09 Mar 2026 06:10:40 GMT

I'm letting Turbotax calculate my underpayment penalty. But since I'm not annualizing or treating withholding as paid there's no form 2210 being generated. How do I actually see the calculation Turbotax did to come up with the number. Moreover, would this cause me trouble with the IRS should they contest what Turbotax estimated.

Re: Underpayment Penalty

VolvoGirl — Sun, 13 Feb 2022 20:57:19 GMT

Form 2210 won't be ready until Feb 25. So if it wants you to fill it out you have to wait.

Federal tax form Availability table

https://ttlc.intuit.com/community/forms/help/irs-forms-availability-table-for-turbotax-individual-personal-tax-products/00/26224

Before filing, You can preview the 1040 or print the whole return

https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-filing/00/26160

No problem with the IRS. But they might calculate it themselves and send you a refund or bill you for more. Turbo Tax penalty is just an estimate.

Re: Underpayment Penalty

Mike9241 — Mon, 14 Feb 2022 03:54:02 GMT

since you are not using the annualization method, not specifically allocating withholding and not requesting a waiver of the penalty, the 2210 is not required to be filed.

Re: Underpayment Penalty

JohnnyJohnny13 — Mon, 14 Feb 2022 04:23:19 GMT

Understood! But how do I then see how TurboTax is calculating the penalty estimate? Is there a way if the form 2210 isn’t generated? I’d like to see if the numbers are accurate.

Re: Underpayment Penalty

JohnnyJohnny13 — Sun, 06 Mar 2022 21:35:26 GMT

Anyone? How is TurboTax calculating the underpayment penalty if the form 2210 isn’t used? I don’t see a worksheet anywhere when I download all my forms.

Re: Underpayment Penalty

JohnnyJohnny13 — Sun, 06 Mar 2022 23:36:37 GMT

Actually I think form 2210 exists. I just can't see it as it won't download with the forms (I suppose to prevent me from filing as it's not required). I know this because it shows up in the forms I can delete. Unfortunately I can't download individual forms using the online version *sigh*

Re: Underpayment Penalty

KatrinaLO — Mon, 07 Mar 2022 01:17:17 GMT

Form 2210 is the IRS form used to determine underpayment penalties. You may need this form if:

You're self-employed or have other income that isn't subject to withholding, such as investment income.
You don't make estimated tax payments or paid too little.
You don't have enough taxes withheld from your paycheck.

We automatically generate a Form 2210 if your return needs it. You can also add the form by following the instructions in this TurboTax FAQ here.