why do i need to put n the amount of taxes owed last yr on this yrs return because I owe more than 500

[MinhT1]

No, the amount of taxes owed for 2018 is not reported on your 2019 tax return.

[rbyrnes99]

thank you but why does it say "you may owe underpayment penalty for 2019" Enter your 2018 taxes from MI 1040 line 21minus lines 25, 26, 27b, 28.  I did owe $68 last yr but line 21 is 300.

[CatinaT1]

It is determining if you meet the threshold for an underpayment penalty.  Entering this information will determine if you are required to pay any underpayment penalty.  If you only owed $68 last year I am guessing you won't be subject to it, but let TurboTax help you determine that.

[rbyrnes99]

again it's not asking me to put in $68 but the $300 I then owe a penalty because I owe the state $600. because of capitol gains for this yr. and once i put the $300 in I now owe almost $800. i don't understand this

[AmyC]

Yes, the program is comparing the liabilities. To go from $600 to $800 is steep. That sounds like too much based on the instructions.

MI-1040 Book with forms page 12, left side shows that if you more than $500, you owe a penalty. It also states that MI will be glad to calculate the penalty for you.