CA state tax underpayment penalty
I was reviewing my CA state tax and found an underpayment penalty. On the CA Form 5805, under the heading "If you meet any of the following conditions, you do not owe a penalty..."
One of the conditions is "At least 90% of the tax shown on your 2025 return or 100% of the tax shown on your 2024 return..." The tax code says you must pay the lesser of the two conditions above to avoid an underpayment penalty.
I paid more than 90 percent of tax due on the current return but I did not pay the amount shown on last years return. In my case, I paid "at least" 90% of current year, but Turbo tax added a penalty. On the form 5805, Turbo tax will not allow me to enter the quarterly estimated taxes that I paid in planning for taxes on interest and investment income anticipated for the tax year. Line 8 of part 2 on this form is there for estimated taxes. This is under the "short method" but turbo tax does not let me enter data in this section. The 5805 worksheet II, shows required installments that do not appear to correlate with any imported document or anything I entered. I do not know where Turbo tax came up with these required installments. If turbo tax uses this worksheet to calculate the penalty, this might be the cause but I do not see any way to correct this worksheet.
Appreciate any help?
