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Level 1
posted Apr 3, 2024 1:30:49 PM

How to use Actual Withholding for Maryland State Underpayment Form 502UP

How can I update Form 502UP to use my actual withholding throughout the year? Turbotax is incorrectly assuming the withholding amount was equal throughout the year and thus calculating an underpayment penalty.

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1 Best answer
Level 1
Apr 3, 2024 4:14:29 PM

Solution: I had to remove the state estimated payments I made from the federal section and go back through the state return to see the option to annualize. I got the idea from this post: https://ttlc.intuit.com/community/taxes/discussion/re-how-to-use-annualized-income-and-actual-tax-withholding-for-m-2210-i-was-able-to-do-that-for/01/3283501/highlight/true#M1207824

1 Replies
Level 1
Apr 3, 2024 4:14:29 PM

Solution: I had to remove the state estimated payments I made from the federal section and go back through the state return to see the option to annualize. I got the idea from this post: https://ttlc.intuit.com/community/taxes/discussion/re-how-to-use-annualized-income-and-actual-tax-withholding-for-m-2210-i-was-able-to-do-that-for/01/3283501/highlight/true#M1207824