Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Apr 22, 2023 6:48:59 PM

VA 760C Turbotax not calculating underpayment penalty in Part III

I have small amounts of underpayments, about $16 per quarter in Virginia. No exceptions met.
Turbotax is calculating the quarterly underpayments correctly, but not calculating the penalty. Part III of VA 760C is completely blank.
Is this a bug?

0 1 223
1 Replies
Level 2
Apr 22, 2023 7:19:49 PM

I googled it while the Turbotax "tax expert" was getting lost in its canned answers that were useless. In VA, it seems if underpayment is less than $150, there is no penalty. So hopefully that info helps someone.
Maybe someone from Turbotax will add that note somewhere for their "tax experts" to pick up when they are asked the question.