State Annualization Method won't allow changes to value for final quarter

tookiecatsdad — Thu, 22 Feb 2024 15:02:07 GMT

Turbotax will not allow me to change the value for the fourth quarter in the state taxes annualization method. I can change the values for the other three quarters. And the value it enters for the fourth quarter is different from the value TT calculated for the state taxable income.

Re: State Annualization Method won't allow changes to value for final quarter

SteamTrain — Thu, 22 Feb 2024 15:42:34 GMT

You'll probably need to indicate which state...then someone with that state might be able to answer.

For example...

1) some states may want just each quarter's amounts...and the final Qtr amount would have to be the remaining amount not used up in the first 3 quarters. That final amount would be a calculated remaining amount.

2) and other states may use a running total, meaning Q1 is in the first qtr, entry, Q1+Q2 is in the second qtr as a total for both....similarly Q3 would actually be Q3 added to Q1 & Q2...and Q4 the total for the year.

But in either case (IF you are using the Desktop/download software) you probably need to make sure you use the interview, so the software would enter either the individual quarters, or the successive totals, based on your interview entries.

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OR...if you really think it is doing things wrong...Customer Support on the phone to have them investigate:

What is the TurboTax phone number? (intuit.com)

topic State Annualization Method won't allow changes to value for final quarter in State tax filing

State Annualization Method won't allow changes to value for final quarter

Re: State Annualization Method won't allow changes to value for final quarter