I've learned that I may need to file an amended state return for Indiana. My original tax filing was done on time and all taxes due at that time also paid on time. An amended return would increase my tax liability, so I assume that I will also have to pay a tax penalty and interest for paying the additional amount due after the normal April due date. First question, is this correct? If it is, then my second question is how/where in TurboTax do I do this? I'm not seeing anywhere to enter this information and in looking at the forms it doesn't appear to be automatically calculated either. Thank you.
See the "tax penalties" section at https://www.in.gov/dor/business-tax/tax-rates-fees-and-penalties/
Turbotax does not calculate penalties and interest for late payment of the balance due.
you can include the penalties in your remittance but you'll have to wait for the state to calculate the interest and send you a bill.
or don't include penalties and wait for the bill for penalties and interest