Two errors on forms 2210/2210AI TY 2021 (after Feb 17 update)

[categorifiedcoder]

There appear to be two unresolved issues with the updated forms 2210/2210AI in the Feb 17 update when Part II box C is checked (annualized income installment method):

1) Form 2210, Part III, Line 10, column (a): incorrect transfer of amount from Schedule AI, line 27, column (a) (some 10x larger amount that doesn't seem to correspond to any field in 2210AI is entered). The amounts in the other columns are transferred correctly.

2) Form 2210AI, Part I, Line 7: amount from line 12b from Form 1040 is not added to standard deduction

In both cases, overriding the field and entering the correct value manually leads to the correct overall computation (and no underpayment penalty in my case, whereas with the errors TT computes a large penalty)

[ssel]

I hit both of those errors. 

Line 10 column (a) is too high by an amount equal to the value in column (b).

This thread also reports on the Line 10 issue:

https://ttlc.intuit.com/community/taxes/discussion/re-2021-form-2210-calculation-error/01/2496341

[Tax4fp]

Latest TT update on 2/24/22 has fixed the error with Form 2210 line 10 box (a).  Line 10 now matches Form 2210AI line 27.  This has eliminated the bogus underpayment that TT previously calculated.  However, the step by step page for entering annualized withholding still shows incorrect date (7/15/2021) in second and third periods:  should be 6/15/2021.

[Tax4fp]

Update from 2/24/22 didn't fix all of the problems with Form 2210.  Filed my return after this update eliminated underpayment penalty, but IRS rejected because of additional issues with Form 2210 in those cases that income and withholding are annualized.  TT indicated that an updated version of Form 2210 will be issued on 2/25/22 to correct the additional problems so my return can be accepted.  Crossing my fingers that they finally fix all the issues with this form, but I'm skeptical based on their poor performance to date.

[categorifiedcoder]

Confirmed that issue 1) originally reported here is fixed in the 2/24 update for me as well, but issue 2) is not (as also pointed out in other threads here, like 2021 Form 2210 Calculation Error )

[Tax4fp]

Never received the promised 2/25/22 update to Form 2210 and  it is still not available this morning at 8am EST, so I can't refile the return that IRS rejected because of Turbotax errors.

[Tax4fp]

Even though the 3/3/22 TT update didn't correct any of the errors in multiple lines of Form 2210, it did something so that IRS now accepts the return.  Since both the correct and incorrect Form 2210 numbers showed that I didn't owe any underpayment penalty, I just let it go through and annotated my copy of printed return to highlight the errors in case the IRS ever questions the return.  2021 TT Form 2210 is still an error filled piece of junk and I'll use something else next year because they don't seem to care to issue a quality product.

[mklein5433]

Sorry but the amount on 2210AI line 7 cannot be overridden, at least in the desktop version.

How about a bug fix?

[ssel]

> Sorry but the amount on 2210AI line 7 cannot be overridden, at least in the desktop version.

I've overridden that line in the Premier desktop version.  It prevents e-filing which is a problem, but it can be overridden.

[Tax4fp]

There is a way to get 2021 TT to correctly calculate line 14 (a)-(c) if you have any long term capital gains in the first three periods.  Simply enter the combined total of cumulative CG/QD into the inputs for QD and enter zeros in the LT CG boxes.  TT will then properly scale the total CG/QD by the respective period factors and produce the correct values in line 14 (a)-(c) that TT uses to determine whether an underpayment has occurred.  The specific breakdown between CG and QD is never shown in either Form 2210 or Form 2210AI that get filed when forms are printed and the IRS accepted a return that was e-filed with this tweak.  Use of this option should be considered if TT calculates that an underpayment is due in order to eliminate or reduce a penalty that TT has over estimated because of their failure to properly implement the IRS requirements in Form2210AI.