Error in Form 2210 Turbotax 2021

[SForrestLO]

Thank you for the update.

@Tax4fp

[bbakercpa]

As of 8am here on the east coast, there is no update from TT.

I still have the following problem which they have not addressed... copied from prior post...

Agreed... but TT did not fix the error on Form 2210 line 11(a) as it does not pick up from the Tax Payments worksheet line 6, Overpayments applied to 2021, in the federal tax column. Therefore the total taxes paid on the Tax Payments worksheet line 21, does not equal the total of line 11 from 2210.

[bbakercpa]

Form 2210 line 10 error has been corrected...  LINE 11 is still in error as the total estimated taxes does not agree to the Tax Payments Worksheet.  This s/b an easy fix... total of 11a, 11b, 11c and 11d must equal line 20 of the Tax Payments Worksheet.

[MichelleLO]

Please reach out to TurboTax Customer Support for additional assistance. 

What is the TurboTax phone number?

@bbakercpa

[KevinInBoise]

Same problem for me with a rejection yesterday, got an email today reminding to update the software and fix the issue, just tried, there is no software update.

[bbakercpa]

Agreed... waiting to talk to a 'support tax specialist' again !!!

Another posting said there was suppose to be another update today... apparently never released. One reply to my posting from a TT tax specialist said delete 2210 and re-create. Needless to say, it did not work. Problem still exists. Total estimated tax payments on 2210 line 11 does not agree to Tax Payments Worksheet.

[CarissaM]

If you are still having the same error, it is best to follow the instructions here to reach a specialist by phone. This will allow us to do a deeper look into this issue. 

[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.

[eagle3man]

I have been using Turbo Tax for more than 30 years and this is the first time I ever had to file Form 2210 and at no point in the year was I underwitheld when both normal witholding and estimated payments were made and combined. This same error apparently occured in the down-loaded version (without CD). Very frustrated as Its imposssible to adress this issue "live" with a technical suppost person. I guess I should expect a problem like this once every 30 years when you only pay $100 to have a semi-complex return completed by a third party.

[bbakercpa]

Spoke to a tax specialist last night after 8pm. Confirmed there was no new 2/25 update. Totally understood my issue that 2210 line 11a-d does not equal line 20 on the Tax Payments Worksheet as the tax refund carry forward from 2020 return is not being picked up in the 11a total. 
He reports to a CPA but was not working yesterday so nothing is getting addressed. 
BTW, you are not the only one whose tax return is being rejected due to 2210 errors. See other postings. 

[kevinandlori]

TT is still not correctly calculating the following on Form 2210 as of 2/26/2021:

1. The tax computations on schedule AI, line 14 column (a), (b), and (c) are incorrect if you have qualified dividends. Specifically, on my return Turbotax is incorrectly applying exactly a -12% tax rate to my qualified dividends when it should be a +15% tax rate. This error results in estimated quarterly taxes that are lower than they should be by 27% of qualified dividend income.

2. IRS instructions for Form 2210, Line 11 state "Any overpayment from your 2020 return applies to your 2021 estimated tax payments. Generally, treat the payment as made on April 15, 2021." Instead Turbotax incorrectly fails to apply the prior year refund to any quarter in Form 2210. 

Also, Line 7 schedule AI incorrectly excludes amounts on line 12(b) of form 1040. However, Turbotax does implicitly include the amount on line 12(b) in the estimated tax calculation.

[ryan-p-abraham]

Form 2210 is ALL messed up .... Line 8 is ALSO wrong .. It is suppose to be a direct transfer from the Federal Carry over worksheet from Line 6

But instead of a direct transfers It is taking 110% of the value from the 2020 taxes instead of the direct transfer

This is causing me to have to have a penalty assessed. 

Every year with turbo tax there is something last year ESPP and RSU calculations where messed up for months. And now they are trying to give everyone Estimated tax penalities ... 

Hey Turbo Tax get you act in gear the instructions for this  form are at

https://www.irs.gov/instructions/i2210

Let see if you can do some simple Math !!!

[Tax4fp]

With respect to Form 2210 AI line 14 calculations, I can confirm that the calculations for at least columns (a) and (b) are wrong for me.  I ran some tests with a spreadsheet and it appears that line 14, box (a) is incorrectly calculating the tax effect of LT cap gains and Qual div.  To do the calculation, the actual CG/QD for each period have to be multiplied by the appropriate scaling factor for the period (should be 4 for box (a)).  The correct tax calculation would then add 15% of this value to the tax calculated for the total taxable income less the CG/QD income to provide the total tax for that period in box (a).  In my case, it appears that TT is incorrectly using the factor for box (b) (factor of 2.4) instead of the correct factor of 4 for box (a) for this calculation.  This appears to be a carryover of the 2020 calculation which combined income from the first two periods to assess underpayment penalties.  Box (b) also appears to have used the wrong factor (possibly the third period factor of 1.5) which also resulted in a significantly higher number in box 14 (b) than it should if the calculation was done correctly.  There may be other explanations for the bad numbers in line 14 (a)- (c), but since previous problems with line 10, box (a) were also the result of carrying over the 2020 Form 2210 calculation, the use of improper scaling factors seems more likely than changing 15% to -12%.

Also I would note that the manual TT update download page/file hasn't been updated for 3 days (since 2/24). This confirms that TT hasn't yet provided the Form 2210 update that was supposed to be issued on 2/25/22 to fix errors in Form 2210 that several of us were told would be issued to allow us to refile our rejected returns

[bbakercpa]

It is unfortunate that today, 2/27, TT is unable to fix the 2210. I have no idea whether any of these postings or phone conversations with their ‘tax specialists’ ever get to their programming group. On Friday I spoke with one of their tax specialists who told me he reports to a CPA who was not working on Friday. Question, who is minding the store. I wonder about their Proseries software and whether it has the same issues. 

[Tax4fp]

With respect to messed up 2021 Form 2210 AI line 14 calculations,  I ran a  check to verify my spreadsheet, which is based on IRS Pub 505 Worksheets for Form 2210,  was correctly predicting line 14.  I went back to 2019 TT Form 2210 and compared what the spreadsheet calculated for taxes due line 14 to what my spreadsheet predicted for that year and they matched in all periods.  If TT had just used 2019 Form 2210 which has the same est tax periods as 2021, rather than using 2020 Form 2210 as a basis, there wouldn't have been all the errors in 2021 Form 2210 that they still haven't fixed.