I believe that I want TurboTax to generate California form 5805, for at least my state taxes. However, it has not. What is needed to trigger its generation? Or, how do I track down what I need to change to trigger it?
I owe CA estimated taxes because I took a large capital gain in the fall that disqualified me from the safe harbor rule. The income is exempt from federal tax, so there are no estimated taxes for it (the income is subject to Section 1202 exclusion). The income is subject to state taxes. I paid the state estimated tax for the income for the fall deadline.
Given this, I believe that I want to use the annualized income installment method, and thus form 2210, so that the CA FTB does not charge me a penalty for late tax payment.
However, TurboTax does not generate this form and also does not show that I owe a penalty.
Thank you
I upgraded to TurboTax Live and discussed with them. They told me that TurboTax doesn't see me as owing penalties, because I paid the estimated payments in the quarters that I received income. However, they offered I might manually file California form 5805, since TurboTax does not generate it.