Annoyed! I paid in withholding and estimated taxes to qualify for what is referred to as safe harbor in MN as the total was $1 more than tax owed for 2019. But Turbo somehow decided I had not evenly paid it over the year and calculated a $31 late underpayment penalty. I was willing to pay that and get my taxes done. I paid for the state e-filing and after payment, Turbo now tells me I cannot e-file the state with the underpayment statement form the chose to use and I must file by mail. How do I get my money back? And filing by mail, believe me I will not be paying a penalty!
Please go back to your state estimated payments and ensure that the correct date paid was entered for each quarterly estimated payment. It might have defaulted to a date paid of 7/15/2020 for the first two estimates. Per the 2020 M15 Instructions, the due dates were 4/15/20, 7/15/20, 9/15/20 and 1/15/21. If the dates are not correct, it could trigger an underpayment penalty. Therefore, please enter the actual dates you paid the estimates. I have attached a picture below for additional guidance.
To review your estimates entered, please follow the steps below:
- Open your tax return.
- Search for estimated tax payments with the magnifying glass tool on the top of the page.
- Click on the Jump to estimated tax payments link at the top of the search results.
- Click on Continue next to State estimated taxes for 2020.
- Ensure all information (especially the date paid) is accurate.
I was surprised that I owed a penalty, so double-checked that my Minnesota estimated taxes were entered correctly. On the interview screen, it looked alright. So I saved a copy of the return, but have not mailed it in.
As I look at it more closely, I see that TT does not show my estimated taxes correctly. And since I paid (stupid, I now know), I can't even go back and check again or make any adjustments.
I think TT is broken, at least for Minnesota returns with estimated taxes. I will have to do this by hand now.
Can I please get a refund?
Can I get my money back please?
And just to be a little more precise, on line 14, of four M15, "Credits", where the estimated taxes should show up, TT has 0 for column A and 0 for column B; the number in column C is the sum of my actual payments for the first 3 periods, and column D has some number which I haven't been able to figure out yet.
Similar issue, I owe penalty for MN and TT asked if I wanted to annualize my MN income to try and reduce the amount which I said no since it tells you that you cannot electronically file if you annualize your income. After buying the state electronic filing TT rejects my return saying I used the Underpayment Statement (which TT did some calculation on and filled in M15 line 22) and have to mail my return. I can't override what it did.
Obviously need a refund of the state filing fee and very unhappy that it looks like I may need to mail my return.
TT fix your programing error!