I underpaid my estimated tax this year due to unforeseen circumstances and was expecting a penalty. Anyway, i just now did my tax return on TurboTax and it calculated a penalty of $8.00 (Line 38, Form 1040). The IRS website says if you calculate a penalty, a Form 2210 is required. But Form 2210 was not included on with the TurboTax generation of my tax return nor did i find it in one of the worksheets. I would prefer to pay the penalty up front with the Form 2210 instead of having them calculate it. But why did the TT software not produce a Form 2210? Also, if it's $8 only, i won't try to request a waiver.
It sounds like the 2210 was prepared , and paying the $8 will satisfy the IRS as full payment.
However, please check these conditions
As an alternative you can go to the main menu.
Thanks for that. Found 2210. But when i print it out (to PDF) it only prints the 1st page of the form. Do you know why it won't print the 2nd page?
Please clarify your question.
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I'm using the desktop Premier version. If i do: Forms-->Open Forms-->Form 1040, i can print the whole 1040 (2 pages). If i do the same for Form 2210, only the first page prints out. I can VIEW the entire Form 2210 but the print out is only the first page. Worst case, i can just print out a blank 2210 and fill in the info from the view. But would be nice to just download a copy for my records.
I have the same issue:
1. TurboTax Home & Business tax year 2023.
2. The return has a calculated penalty.
3. Tried to print return, but it did not print Form 2210 even when I select print with all calculation worksheets.
4. Tried to print just Form 2210, it only prints Page 1. No page 2.
5. I can see page 1 & 2 in the program but can't make a record of it.
I think this is a software bug, but have not found a way to report it to Intuit. Anyone know what to do?
It looks like the IRS might not require the form 2210 to be filed unless you're requesting a waiver. But check with the IRS website or the actual 2210 form. And if you're in that waiver category, they only want you to file the first page. But again, don't take my word on that. Check the IRS Form 2210. Here is what the IRS Form 2210 says for someone who owes a penalty but is requesting a waiver: 1. You must file Form 2210. 2. "If you want to figure it (the penalty), you may use Part III as a worksheet and enter your penalty amount on your tax return, but file only page 1 of Form 2210." For someone not in the waiver category but owes a penalty: 1. Don't file 2210. 2. If you want to figure it, you may use Part III as a worksheet and enter your penalty amount on your tax return, but don’t file Form 2210."
Please check Form 2210 to be sure.
As far as keeping the TurboTax produced 2210 for your records, what i did was print out the first page. For the 2nd (or if you have a 3rd), use a blank Form 2210 page 2 and copy the numbers down and scan both pages into a single PDF file. That's what i did for that. TurboTax does the hard part on this. That is, doing the calculations to determine the penalty amount.
Yes, that's correct. If you aren't asking for a waiver, only page 1 of Form 2210 will print with the return.
You can force TurboTax to print the entire form by requesting a waiver, but I wouldn't just fill the form in and send it when it isn't required.
If you want to force TurboTax to print the entire form by requesting a waiver:
For those of us who like to keep full records of all forms and worksheets regardless of what gets submitted to the IRS, I find the handling (as described above ) of 2210 in turbotax to be very unhelpful and frustrating.
To print/save both pages of 2210 I had to use snipping tool to get a screenshot of page 2.
I respectfully submit the following feature requests:
1. Please include 2210 and the 2210 calculation worksheet in the Print/Save for Your Records->Forms to review or keep for your records -> Tax Return, all calculation worksheets
2. If request #1 is rejected, please enable the printing of the full 2210 from Forms View.
I had the same problem - I couldn't find form 2210. But when I clicked "Open Form", and entered "form 2210", it appeared. It's still not part of the forms in my return (as I look down the forms on the left side) but at least it does exist somewhere. I think what's happening is, the form exists, but because it won't be submitted as part of my return, it's not showing.
I have TurboTax Deluxe 2023 for Windows
Firm 2210 has worksheets that are generated when determining if you have a penalty and need to file the 2210. You may have the worksheets without the form. If you are using the desktop version, you can open the form and select the Print option.
My fictitious return as an example
Thanks, that worked. The 2210 wasn't part of the return, but after clicking "Open Forms", and entering "form 2210", it appeared. I think that unless I go for a waiver, the 2210 isn't needed by the IRS, hence it didn't show as part of the return.
I also have a penalty amount on line 38 on my return and the 2210 form was not included in my generated return. The 2210 form was really supposed to have been sent along with the return in my case?
I've already filed my return - I don't see "Tax Tools" in my left sidebar (online) and don't see how I can access my 2210 if it was in fact generated. Would I need to amend the return in order to access it? Or is there another way to access that form? Should I file the amended return with the 2210 attached?
If you're not requesting a waiver, then you don't need to send in Form 2210. And if you are requesting a waiver, you only need to send in the first page of 2210. If you want to print out the official completed Form 2210 from TurboTax which includes pages 1, 2 and sometimes 3, Go To: View ---> Forms and search on 2210. There you'll be able to see the official form and/or the actual worksheet of how TurboTax calculated the penalty. I'd advise to print all of it out and save for your records. I was only able to print out the first page of 2210 so what i did was print out a blank Form 2210 i downloaded from the IRS site and printed out page 2 and copied down the numbers that TurboTax provides. I then scanned both pages 1 and 2 into a single PDF file. I also downloaded the worksheet calculations from TurboTax. All of this is discussed in the thread above including "how to request a waiver" by the TurboTax experts so please look at those comments. Again, if you're OK with the penalty, pay it and don't send in Form 2210. If you want to request a waiver because of some special circumstances, please read the post above by "JulieS" on how to request a waiver.
Hi Daniel, it looks like you used the online version of TurboTax. I used the desktop version on Windows, so I can't help you find your 2210. However, if you look at the 2210 instructions (https://www.irs.gov/instructions/i2210), it tells you to "Use the flowchart at the top of Form 2210, page 1, to see if you must file this form.".
Form 2210 is at https://www.irs.gov/pub/irs-pdf/f2210.pdf
My understanding is that, if you accept the penalty as calculated by TurboTax, and decide not to reduce it or waive it, there is no need to file the 2210 with your return. If, on the other hand, you complete the worksheet and determine that you are able to reduce/remove the underpaymant penalty, then you need to include the 2210 with your return, to show how you arrived at your new amount. ** I am not qualified to answer questions like these - I'm just explaining how I understand the tax law. Maybe someone else can confirm this. **
That answers my questions - thanks @MikeF2 and @metrangia!
IRS has sent me a refund check stating "We reviewed your Form 1040 for the tax year ending 2023 and found that you miscalculated your estimated tax penalty". I received a 1099 for a gig job that I performed in October 2023, and TurboTax miscalculated penalty for this payment. There was no Form 2210 in the printed forms, so I thought Turbo Tax calculated the penalty behind the scenes. After reading here, I realized that you have to click Open Form in desktop edition and manually search 2210. Not sure why TurboTax would do this way. First of all, TurboTax miscalculated the estimated tax penalty and second they hid 2210 from printed forms.
When you filed your return with TurboTax did you specifically give the date you received the income from the gib job? Because you would've owed estimated tax for the one quarter (4th quarter). Otherwise, i think TurboTax will say you received it across all four quarters by default. And check the messages on this thread. On Form 2210, it says not to send in the form unless you wish to request a waiver. But i am sorta surprised the IRS responded as fast as they did with a refund no less.
I entered it as a 1099-NEC income. I don't think TurboTax has asked me a date or dates of when this gig job was performed. My understanding of Estimated Payments is that based on current year's income, you should estimate next year's estimated tax. This particular 1099 job was a one time job that I performed and was not estimated in 2022. You are right, TurboTax has calculated across all 4 quarters and that's why IRS corrected it and sent me a refund of penalty.
"My understanding of Estimated Payments is that based on current year's income, you should estimate next year's estimated tax. "
Yes, sorta i guess. I think that applies to people who use the "safe-harbor rule" which i do. Personally, i estimate my tax liability for the whole year (2024 in this case) as same as my tax liability for the previous year (2023) and divide it by two and send the IRS the payments in Quarters 1 and 2 of 2024. So i front-load the payments, to be safe, because it matters when you pay your estimated tax. But the safe-harbor rule doesn't work for everyone. It sounds like you just had a job pop up in October 2023 and got paid then. The IRS knew about it because they saw your 1099 but the Turbotax program needs to be told when you earned the extra income otherwise it'll default to all four quarters. You would've been OK if you made an estimated tax payment (1040-ES) for the 4th quarter (i think it would've been due Jan 15, 2024) because you had earned it in the 4th quarter. If you had earned it in the 1st quarter of 2023, the Turbotax program would've been right to penalize for all 4 quarters.
Let me add to search on "safe harbor rule as it applies to estimated taxes" on the internet. They can explain it better than i can.
Did you mark the mark to Let the IRS bill me? When you select that option, the IRS sends you a bill. If you pay the penalty within the date on the notice, no interest is charged. See Form 2210 instructions. @raghu2600