There appears to be a bug in TurboTax Online translating entry values from the section
Underpayment Penalties -> Actual Withholding
into form 2210.
The "Tax Payments by Quarter" page takes three entries (H1, Q3, Q4) but does not put them into the correct boxes in form 2210. Instead it put the sum of H1 and Q3 values in the first box and then duplicated the Q4 value for Q3 and Q4.
There is no way to manually edit the form as far as I can tell. I tried deleting the form and reentering values and still get errors with form 2210.
Does anyone have a workaround or know how to get this bug filed with TurboTax? I called support twice and they were unable to help me file a bug report.
I think I figured it out and I was wrong.
On "Tax Payments by Quarter" you fill out your withholdings without any estimated tax payments you made.
On form 2210 it displays these values PLUS any withholdings you recorded in TurboTax on other forms.
In my case the values were very close and it looked wrong. So I actually think that my return is correctly filled out by TurboTax.
The reason I thought there was a bug here was because I think there *really is* a bug in a related case. Originally I filled out my "Tax Payments by Quarter" incorrectly. The value did not total up to my annual withholding. On the "Review" step I was presented with an error to correct. When attempting to fix that error, TurboTax displays form 2210 with three input boxes on line 19. But it only has the H1 and Q4 boxes filled in and with the incorrect values. There is no way to actually fix the entry here. You have to go back to "Tax Payments by Quarter" and update it there total correctly.
Hopefully this helps others figure out there own situation.
Unfortunately this bug is still very real for me, and I haven't heard a peep from Intuit. Updating "Tax Payments by Quarter" doesn't seem to do anything for me, as the numbers displaying in the actual form are incorrect and there's no way to fix them.
Okay I finally got ahold of someone amazing (Regina) at TurboTax who helped me out, so I'll share what she showed me.
1. On the left navigation bar, click Tax Tools
2. Click Tools in the sub-menu
3. In the modal that comes up, under Other helpful links... click Delete a form
4. You'll be able to see all the forms you've completed so far. Delete all the ones related to 2210.
At this point, I didn't care about annualizing and reducing my penalty, so I went forward with the default penalty.
Good luck to all who have this problem. Hopefully this helps! And if it does, shoot a note to TurboTax thanking Regina.
An alternative is to pay the tax at irs.gov. you can pay the amount owed so that you don't incur additional interest. Then you should add the amount paid in the "Estimates and Other Taxes Paid" section of Deductions and Credits. When you get to the "How much did you pay in federal estimated taxes?" question there is a place at the bottom for "Additional Payments". Enter the new tax payment here. The Federal Refund box at the top of the application should go to $0. Now, all you need to do is wait for Turbo tax to fix the problem.