topic My taxes withheld only covered 88.6% of my tax liability for 2024 not the 90% minimum required; yet TT didn't calculate a penalty. Is there a problem with the TT program? in Retirement tax questions

My taxes withheld only covered 88.6% of my tax liability for 2024 not the 90% minimum required; yet TT didn't calculate a penalty. Is there a problem with the TT program?

proteus1966 — Tue, 03 Feb 2026 08:33:37 GMT

I did pay estimated taxes every quarter for 2024. Would this be why TT didn't calculate a penalty?

Re: My taxes withheld only covered 88.6% of my tax liability for 2024 not the 90% minimum required; yet TT didn't calculate a penalty. Is there a problem with the TT program?

rjs — Mon, 24 Feb 2025 03:39:57 GMT

There is no penalty if the amount you owe is less than $1,000.

There is no penalty if your withholding is at least 100% of your 2023 tax liability (110% if your 2023 AGI is over $150,000 ($75,000 if married filing separately)).

Re: My taxes withheld only covered 88.6% of my tax liability for 2024 not the 90% minimum required; yet TT didn't calculate a penalty. Is there a problem with the TT program?

proteus1966 — Mon, 24 Feb 2025 03:51:32 GMT

@rjs thanks for the reply. Unfortunately I owe over $3000 for 2024. My AGI is over $159,000 and I fall $546 short of meeting the 110% minimum of my 2023 tax liability.

Re: My taxes withheld only covered 88.6% of my tax liability for 2024 not the 90% minimum required; yet TT didn't calculate a penalty. Is there a problem with the TT program?

rjs — Mon, 24 Feb 2025 04:07:56 GMT

If you are using the desktop TurboTax software, switch to forms mode and open Form 2210. Go through Part I line by line. See if the numbers are right, and if it tells you not to file Form 2210.