topic Which credit? in After you file

Received notice from State of Ohio. Billing Notice Variance. 2013 filed with you. Interest $224.01

kesellers — Wed, 05 Jun 2019 01:36:00 GMT

Did you pay your OH taxes late?

SweetieJean — Wed, 05 Jun 2019 01:36:02 GMT

Did you pay your OH taxes late?

No paid on time. They are saying that I can't take a ce...

kesellers — Wed, 05 Jun 2019 01:36:04 GMT

No paid on time. They are saying that I can't take a certain credit.

Which credit?

SweetieJean — Wed, 05 Jun 2019 01:36:05 GMT

Which credit?

Which credit were you not allowed? The lump sum retiremen...

Hal_Al — Wed, 05 Jun 2019 01:36:06 GMT

Which credit were you not allowed? The lump sum retirement and lump sum distribution credits are particularly complicated and so is the TurboTax interview. Most people, here, who ask about it are not eligible. For example, leaving your employment and cashing out your 401k does not qualify. Taking a partial distribution from a 401k does not qualify.

There are two separate OHIO lump sum credits. One, the "Lump Sum Distribution Credit is only for people over 64 and you must have taken out everything in the company plan and you must have left the company.

The other, the Lump Sum Retirement Credit, is for any age but you must have actually retired from your company, and taken your entire account as a lump sum.

See page 27 at <a rel="nofollow" target="_blank" href="http://www.tax.ohio.gov/portals/0/forms/ohio_individual/individual/2015/PIT_IT1040_Booklet.pdf">http://www.tax.ohio.gov/portals/0/forms/ohio_individual/individual/2015/PIT_IT1040_Booklet.pdf</a>

Or for the detailed nitty gritty:

<a rel="nofollow" target="_blank" href="http://www.tax.ohio.gov/portals/0/forms/ohio_individual/generic/PIT_LumpSum_FI.pdf">http://www.tax.ohio.gov/portals/0/forms/ohio_individual/generic/PIT_LumpSum_FI.pdf</a>

I'm surprised OH is just now getting to 2013 returns. @ke...

SweetieJean — Wed, 05 Jun 2019 01:36:08 GMT

I'm surprised OH is just now getting to 2013 returns.
@kesellers Did the IRS change anything on your 2013 Federal return? And you said $224.01 interest....does that include the additional taxes due?

Sounds like a $200 credit, plus interest. https://ttlc.intuit.com/questions/3271660-what-is-the-lump-sum-retirement-credit-in-ohio">https://ttlc.intuit.com/questions/3271660-what-is-the-lump-sum-retirement-credit-in-ohio</a>

The TurboTax (TT) accuracy guarantee process is explained...

Hal_Al — Wed, 05 Jun 2019 01:36:11 GMT

The TurboTax (TT) accuracy guarantee process is explained here

https://ttlc.intuit.com/questions/1901269-how-do-i-submit-a-claim-under-the-turbotax-100-accurate-ca....

but it only covers actual CALCULATION errors in the program, not user error (and it’s almost always user error), and it only pays any penalties or interest resulting from that error, not the taxes. Either way, you are still responsible for the increase in tax.