I used the Federal Schedule AI and 2210 and provided income and taxes paid by specific period since 65% of my income was in December. Using Turbo Tax, how can I do this for my Mass return to avoid the penalty it has calculated for me?
Go back into the Massachusetts return. You walk through all of the questions until you get to
Go back into the Massachusetts return. You walk through all of the questions until you get to
I've walked through my entire MA return, but I never get an "Underpayment Penalty" page to click on Exceptions; however when I get to the page "Your Massachusetts Bottom Line", the penalty is there. I'm even getting a $1200 refund. I only see exceptions to the Underpayment Penalty if I jump to Forms.
I don't understand how you can be getting a refund with a penalty. Did you try to enter the annualized income in the Forms Mode? I am wondering why that page is not showing up because you are getting a refund. Could you annualize in the federal return?
I annualized in the Forms Mode and the MA 2210 is not longer in my MA return and the penalty is gone. It was really unusual. Prior to this my actual pdf forms had a $1200 (round number) refund with a $28 penalty. Thanks for the help!