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Level 4

Question

Form 2210 TY 2021 error

Forum|Forum|4 years ago
February 18, 2022
6 replies
119 views

The updated form 2210 ecosystem is installed on my desktop version of TurboTax. There appears to be an error, as follows:

On form 2210AI, for the first estimate, my deductions are greater than my income. 2210AI correctly shows no installment due on line 27 for the first quarter.

For the second quarter, 2210AI shows an installment due of $1,353.

Moving to form 2210, on line 17 it shows $1,353 in BOTH columns 1 and 2. The mistaken entry in column 1 is then being picked up by the 2210 Underpayment Penalty Worksheet, which is trying to charge me a penalty based on the mistaken entry.

It appears that form 2210 installment 1 is mislinked to form 2210AI installment 2 rather than the first installment.

All 3 forms are correctly showing no additional installment due for the third quarter.

Intuit, can you please check on this and fix. Thanks.

mark859

Level 2

I also see numerous errors on TY2021 Form 2210. The errors are in Part III Section A lines 10-19.

On Line 10, it is not transferring the correct values from Schedule AI line 27.

On Line 11, it is not transferring the correct values for estimated tax paid and tax withheld.

Once those two are wrong, that leads to Lines 17 and 18 (underpayment, overpayment) being incorrect.

Once those are wrong, Line 19 (Penalty) becomes incorrect.

In my case, I should not be paying a penalty, but TurboTax is showing a penalty.

I am using Turbotax Home and Business Desktop for MacOS

Rickp973

Level 3

Also see several errors on 2210 on TT Premier. Just got off the phone with support with no resolution. The agent was unaware of any issues with the form. Line 10, col (a) of part III is not carrying the proper value from Sched AI, line 27.
Sched AI line 7 should include 1040, 12a and 12 b but only carries 12a.
This form is a mess and is keeping me from filing. Intuit needs to fix this asap.

HeatherPLO

Level 14

Please see this Help Article for further assistance. You will also be able to sign up for updates as well.

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

rm300

Level 2

Just so you're aware, this isn't really helpful. There's no article, it's marked solved, it's from last year, and it was seemingly a different problem from this one, albeit on the same form.

rm300

Level 2

This was in response to Heather's post.

Rickp973

Level 3

Unfortunately, the response form HeatherPLO is not helpful. The link to signup for notices just puts me into a sign-in loop. Form 2210 has many errors. For example, line 10 of Part III, Section A is combining the values from Sched AI, line 27, columns (a) and (b), which is incorrect. That was the logic for the 2020 version of Form 2210 but was changed by the IRS for 2021. Perhaps this form was released prematurely. I would ask that Intuit review this entire form and correct it asap.

ftcbski

Level 2

I am using the Annualized Income section of the Form 2210. and it is not calculating the line 14 tax correctly. Looks like tis form was released without proper review.

soccerdavid

Level 2

I'm seeing this bug also. Here are two screen shots from the Form 2210 produced by TurboTax Deluxe. You can clearly see that the first value from line 27 in Schedule AI is not copied correctly to Form 2210 line 10.

My solution is to override the incorrect value in line 10 so that I can avoid the underpayment penalty that TurboTax had incorrectly added.

soccerdavid

Level 2

An update. Looks like TurboTax won't let me efile with an overridden field. ☹

So now I have to wait for TurboTax to admit there is a bug and provide a fix.

(or file by paper instead).

Xuser

Level 3

You are correct regarding the error. Many unsuspecting customers will fill the form and overpay IRS. It will always result in paying too much and there is no way the IRS will catch this and issue a refund. And even if it gets fixed, those who filed already will never realize they overpaid. This is so frustrating. Paying customers spending countless hours trying to get Intuit to correct the software and sometimes being asked to pony up more money for a resolution. This should be a class action lawsuit. We would only get pennies, but it would send a message.

TxUser2014b

Level 2

This is a copy of the post I made (apparently) in the wrong section/forum:

Form 2210AI calculation error for first 3 quarters

I have reported this problem 3 times to TTax support but they insist there is no problem. So I manually printed the form from the IRS web site along with the "Qualified Dividends and Capital Gain Tax Worksheet". This form must be used when it's appropriate (in my case) AFTER the quarterly values are annualized with the appropriate multiplier (4, 2.4, & 1.5). The problem(s):

1. Quarterly entries for long term capital gains are not annualized resulting in an overstatement of the tax on line 14.

2. IT APPEARS that the quarterly values for qualified dividend income are being ignored but I cannot actually confirm this.

The overstatement of the quarterly tax payments due are causing an underpayment penalty to be computed when no actual penalty is due. This error can potentially affect all users that have LTCG and/or QDI income. Note that the year end (12/31/21) calculations are correct so you have to examine the actual quarterly values on form 2210AI to detect this problem.

I also sent 3 files to Turbotax support which clearly documented the error but I too received the standard useless email stating that the trouble report was closed and that there is no error. I even tried to get a phone number for someone at Intuit headquarters that might actually care about these problems but that also seems to be impossible.

Tax4fp

Level 5

As I noted earlier in this forum (and in others reporting similar issue), there is a way to get 2021 TT to correctly calculate line 14 (a)-(c) if you have any long term capital gains in the first three periods. Simply enter the combined total of cumulative CG/QD into the inputs for QD and enter zeros in the LT CG boxes. TT will then properly scale the total CG/QD by the respective period factors and produce the correct values in line 14 (a)-(c) that TT uses to determine whether an underpayment has occurred. The specific breakdown between CG and QD is never shown in either Form 2210 or Form 2210AI that get filed when forms are printed and the IRS accepted a return that was e-filed with this tweak. Use of this option should be considered if TT calculates that an underpayment is due in order to eliminate or reduce a penalty that TT has over estimated because of their failure to properly implement the IRS requirements in Form 2210AI.

Since it is less than 2 weeks until 4/15/22 due date, TT will likely never fix their screwups in 2021 Forms 2210 and 2210AI to perform the proper calculation (s) per IRS requirements, even though they did it correctly in prior years, so consider using the workaround to get the correct result the IRS wants.