For computing underpayment penalty Oregon says "Withholding is treated as if it were paid
in equal amounts on the due date for each required installment payment unless you can show that it was paid differently. "
I can show that it was paid once, early in the year. How can I get TurboTax to generate the OR Tax Payment Worksheet showing the unequal payment of Withholding?
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You will need TurboTax CD/Download to annualize withholding.
If you are using TurboTax Online, first switch to CD/Download: How do I switch from TurboTax Online to TurboTax CD/Download?
In TurboTax CD/Download:
Overriding entries will make your Oregon return ineligible for electronic filing. You'll need to mail in your return. You can still e-file federal.
An override will also void the 100% Accurate Calculation Guarantee.
Since you're referring to Form OR-10, it sounds like you're referring to state estimated tax payments, as opposed to withholding. To enter your state estimated tax payment on a specific date in TurboTax Online:
This should change (or possibly eliminate) your underpayment interest.
Thanks for your response. I actually do mean "Withholding", not Estimated Tax Payments.
For the Annualized Method Tax Payment Work Sheet, TurboTax is automatically dividing the Withholding into four equal payments, one per quarter. While that is the common way to deal with withholding, OR instructions for Form 10 allow Withholding to be entered in the work sheet when paid. The first post quoted that line from the Form 10 Instructions.
I can't find any way to tell TurboTax (I'm using the downloaded version) that the Withholding should be entered when paid, and it won't allow me to adjust the numbers in Forms mode.
Is there any solution to this?
Thanks.
You will need TurboTax CD/Download to annualize withholding.
If you are using TurboTax Online, first switch to CD/Download: How do I switch from TurboTax Online to TurboTax CD/Download?
In TurboTax CD/Download:
Overriding entries will make your Oregon return ineligible for electronic filing. You'll need to mail in your return. You can still e-file federal.
An override will also void the 100% Accurate Calculation Guarantee.
Thanks!
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