turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Vacation Rentals on Feb 26! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Conflicting Instructions regarding Tax Penalty Form 2210

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

 

Screenshot 2025-02-24 133658.png

 

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

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MonikaK1
Employee Tax Expert

Conflicting Instructions regarding Tax Penalty Form 2210

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.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question