I am trying to get turbotax to calculate what my CA state underpayment penalty may be. In the federal section, turbotax asked me if I had an exception (no) and then I filled out the info and it calculated my penalty based on uneven income during 2021. I am trying to get turbotax to do the same for CA state, but it never asks me any questions. I know that there are exemptions and I do not fall under the exemptions to the penalty, so I would rather calculate it and minimize my penalty. If I do not, the the state will send me a bill based on the most unfavorable assumptions and it will cost me an additional several hundred dollars. I know that turbotax has a flaw, because in the past, I have received a bill from my state for underpayment of taxes even though turbotax didnt ask to calculate the penalty. So how do I force turbotax to calculate the CA state underpayment penalty so I can minimize the impact???????
More info. I must choose the annualized installment method, otherwise I have to pay a penalty. How do I know this? Because I did the form 5805 manually. So I want to get the form 5805 populated with the annualized installment method info so I dont have to pay a penalty. I did the same with the federal and that was straightforward, but CA state does not populate form 5805. What is strange is that when I print out my CA return, it doesnt print a 5805, but when I look at my CA forms it shows an empty 5805 that when deleted, regenerates an empty form!
Even more info. I kept trying to delete FTB 5805 and it kept bring regenerated. So I looked in detail in forms. What it said was under the information smart worksheet was F: If penalty exemption 1 or 2 is met, the exception number will be listed to the right. So turbotax autofills: "1 - Prior Yr $500/$250". The exemption 1 states: "The amount of your tax liability (not including lump-sum distributions) less credits (including the withholding credit) but not including estimated tax payments for either 2020 or 2021 was less than $500....
I do not qualify for this exemption. My tax liability for 2021 was $5000 greater than my withholdings. I made an estimated tax payment of $5000 in jan 2022. According to the instructions, I do not qualify for the exemption. 1) IS TURBOTAX making an error including the estimated tax payments in the exception calculation??? 2) I cannot delete the incorrect information in the worksheet. How do I do this?