Is there a way in TT online to annualize income in Maryland state return to avoid underpayment interest on MD Form 502UP?

[joensharon]

I did a Roth conversion in December and made an associated estimated tax payment at the same time. Federal allows me to annualize income to avoid underpayment penalty. Cannot find a way do annualize income in Maryland state return using TT online. A post on the internet from last year says that it may be possible in the desktop version, but not the online version. Without being able to annualize income in the MD return, the state calculates underpayment interest on MD Form 502UP.

[BillM223]

Yes, you can annualize your income on the Maryland Online return.

In the MD interview, you should see a screen with the title "Underpayment Exception". Answer No.

On the screen "Underpayment Interest", answer Yes.

On the screen "Your Interest", check the box for "Use annualization method".

This will start the interview that you are looking for.