topic A one time distribution from my IRA in Dec 2019 has generated a penalty. I am trying to fill out the form 2210, how do I check "line D"? I would rather check line C in Retirement tax questions

A one time distribution from my IRA in Dec 2019 has generated a penalty. I am trying to fill out the form 2210, how do I check "line D"? I would rather check line C

april15federalta — Thu, 26 Mar 2020 21:21:42 GMT

Re: A one time distribution from my IRA in Dec 2019 has generated a penalty. I am trying to fill ...

MarilynG1 — Thu, 26 Mar 2020 23:26:47 GMT

You may qualify for an Exception to the Penalty.

Click this link for more info on Underpayment Penalty

You can Delete Form 2210 from your return and let the IRS calculate your Penalty, if any.

[Edited 03/26/2020 | 4:25 PM]

Re: A one time distribution from my IRA in Dec 2019 has generated a penalty. I am trying to fill ...

dmertz — Thu, 26 Mar 2020 23:17:09 GMT

How being a one-time IRA distribution qualify for an exception to the tax underpayment penalty? I don't think there is any such exception. Deleting the Form 2210 will just result in TurboTax automatically recreating it.

If TurboTax is calculating a penalty, TurboTax should be offering you the option to use the Annualized Income Method.