Hi,
I knew there is a safe harbor to avoid an underpayment penalty is to:
Aim for "100 percent of your previous year's taxes." If your previous year's adjusted gross income was more than $150,000 (or $75,000 for those who are married and filing separate returns last year), you will have to pay in 110 percent of your previous year's taxes to satisfy the "safe-harbor" requirement.
My question is:
How do I let Turbo Tax know my previous tax?
Thank you in advance for your assistance!
Regards,
Avon
Click on Federal Taxes (Personal using Home & Business)
Click on Other Tax Situations
Under Additional Tax Payments
On Underpayment Penalties, click the start or update button
@avonhsu424 if you used Turbotax in 2022, that information should have been imported when you started 2023. you do have to be in the same account as 2022
Hi @Mike9241 ,
I have two Turbotax accounts. How do I figure out what account I used when filing 2022 tax in Turbotax? I used a desktop version (premier on Mac) for filing 2022 tax.
Thank you!
Regards,
Avon