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richardsea
Returning Member

error in software for calculating Estimated Tax Payment Penalty

This is the 3rd year I have reported this issue and it has gotten worse.

Using the step by step process, the software allows entry of the ES Tax payments for all four quarters.

I transferred money from a IRA to a ROTH IRA in December and paid more than enough to cover taxes due.

Last year the Tax Penalty was displayed on one of the step by step screens, so I was able to catch it and request to annualize my tax payments which got rid of the penalty. This year no warning until I was browsing through the 1040 and saw a penalty applied. Since this year allowed me to enter ALL four quarters instead of just 3, I figured the error was finally corrected. However I cannot figure out how to get to the annualizing code without going to form 2210 directly. Nothing in the step by step allows me to even see the penalty let alone go through the annualizing process. Since I did not catch the issue until after filing, I will have to wait until the Feds send my refund and then file an amended return. I have used TurboTax for years, but I may just look for a different product next year. If I wanted to go to the forms and due all of the worksheets manually, I would just return to the paper forms. Perhaps you should change the name of the software to TurdoTax.

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