over here
it says
Generally, most taxpayers will avoid this penalty if they:
1. either owe less than $1,000 in tax after subtracting their withholding and refundable credits,
2. or if they paid withholding and estimated tax of at least 90% of the tax for the current year
3. or 100% of the tax shown on the return for the prior year, whichever is smaller.
but form 2210 does not capture cases 2 and 3
how do I enter the information for case 2 in TT:
if they paid withholding and estimated tax of at least 90% of the tax for the current year
I paid estimated tax to avoid the penalty and now there is no way to get that benefit. TT does not consider that my withholding + estimated tax payments is greater than 90% of tax due
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If TurboTax is showing an underpayment penalty on your return, visit or revisit the Underpayment Penalty section under Other Tax Situations and answer the interview questions. The penalty calculation may change based on your answers, including information about when your withholding was applied. In addition, if you believe you qualify for a waiver of the penalty, you can request a waiver in that section.
The IRS may reduce an underpayment penalty if any of the following apply:
The penalty for underpayment of estimated tax can also be removed to the extent that the underpayment is the result of a casualty, local disaster, or other unusual circumstance such that it would not be fair to impose the penalty.
See here for information about different TurboTax tools you can use to calculate withholding and estimated taxes.
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