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For underpayment penalty, I chose No for "Actual Witholding" it still computes penalty based on my previously entered quarterly numbers. How do I reset it?

 
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1 Reply
LindaS5247
Expert Alumni

For underpayment penalty, I chose No for "Actual Witholding" it still computes penalty based on my previously entered quarterly numbers. How do I reset it?

I'm not sure exactly what you are trying to do, but you can get back to those screens to change your answers as follows:

 

For TurboTax Online and Mobile

  1. Continue your return
  2. Go to the Estimated Tax Payments section
  3. For TurboTax Online/Mobile: Go to estimated tax payments
  4. Select" Start" or "Revisit",  next to the type of estimated tax payment you'd like to enter under Estimated Tax Payments
  5. Enter the amount of estimated tax you paid at each quarterly due date

 

For TurboTax Desktop

  1. Continue your return.
  2. Go to the to the estimated tax payments section
  3. Click on the "Deductions & Credits" tab 
  4. Scroll down to "Estimates and Other Taxes Paid" Click on" Start"
  5. You can visit all on the next screen or select "Start" next to the type of estimated payments you made
  6. Enter the amount of estimated tax you paid at each of the quarterly due dates

If you are trying to get back to the three questions to avoid the underpayment of tax penalties, you can do that as follows:

 

  1. Click on the search icon at the upper right of your TurboTax screen
  2. Type "underpayment penalty"
  3. Click on the link "Jump to underpayment penalty"

 

 

Your screens will look something like this:

 

 

 

 

 

Click here for information on entering your estimated tax payments.

 

Click here for "How Do I Make Estimated taxes"

 

Click here for additional information on "How to Determine What to Pay and When"

 

Click here for common questions on Estimated taxes

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