638750
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

akhuu
New Member

My tax withhold is 88% of tax liability. I thought that I need to complete IRS Form 2210 to claim the 85% waiver. However, Tt say I am OK and don't need. Is it correct?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
ChristieB
New Member

My tax withhold is 88% of tax liability. I thought that I need to complete IRS Form 2210 to claim the 85% waiver. However, Tt say I am OK and don't need. Is it correct?

Is it possible that your withholding this year meets or exceeds your 2017 tax liability? 

In general, you may owe the penalty for 2018 if the total of your withholding and timely estimated tax payments didn't equal at least the smaller of: 

1. 90% of your 2018 tax, or 

2. 100% of your 2017 tax. Your 2017 tax return must cover a 12-month period. 


There are also exceptions to the penalty: 

You won't have to pay the penalty or file this form if either of the following applies. 

• You had no tax liability for 2017, you were a U.S. citizen or resident alien for the entire year (or an estate of a domestic decedent or a domestic trust), and your 2017 tax return was (or would have been had you been required to file) for a full 12 months.

• The total tax shown on your 2018 return minus the amount of tax you paid through withholding is less than $1,000

https://www.irs.gov/pub/irs-pdf/i2210.pdf 

View solution in original post

4 Replies

My tax withhold is 88% of tax liability. I thought that I need to complete IRS Form 2210 to claim the 85% waiver. However, Tt say I am OK and don't need. Is it correct?

Look in your print center.  TurboTax likely already filled it out based on your numbers automatically.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
akhuu
New Member

My tax withhold is 88% of tax liability. I thought that I need to complete IRS Form 2210 to claim the 85% waiver. However, Tt say I am OK and don't need. Is it correct?

I look that the print and I don’t see it. I check the penalty section and it say “ Based on your entry, you don’t have s penalty for underpayment of estimated tax”. I owed no tax in 2017 and Have significant more income in 2018.
ChristieB
New Member

My tax withhold is 88% of tax liability. I thought that I need to complete IRS Form 2210 to claim the 85% waiver. However, Tt say I am OK and don't need. Is it correct?

Is it possible that your withholding this year meets or exceeds your 2017 tax liability? 

In general, you may owe the penalty for 2018 if the total of your withholding and timely estimated tax payments didn't equal at least the smaller of: 

1. 90% of your 2018 tax, or 

2. 100% of your 2017 tax. Your 2017 tax return must cover a 12-month period. 


There are also exceptions to the penalty: 

You won't have to pay the penalty or file this form if either of the following applies. 

• You had no tax liability for 2017, you were a U.S. citizen or resident alien for the entire year (or an estate of a domestic decedent or a domestic trust), and your 2017 tax return was (or would have been had you been required to file) for a full 12 months.

• The total tax shown on your 2018 return minus the amount of tax you paid through withholding is less than $1,000

https://www.irs.gov/pub/irs-pdf/i2210.pdf 

akhuu
New Member

My tax withhold is 88% of tax liability. I thought that I need to complete IRS Form 2210 to claim the 85% waiver. However, Tt say I am OK and don't need. Is it correct?

That's it. My withhold this year is more than the 2017 tax.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question