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5 replies

Alumni - Intuit
June 1, 2019

IRS Form 2210 (Underpayment of Estimated Tax by Individuals, Estates, and Trusts) calculates the underpayment penalty if you didn't withhold or pay enough taxes during the tax year.

Form 2210-F is a variation if you made at least 2/3 of your gross income from farming or fishing.

We'll automatically generate a Form 2210 if your return needs it. Or you can revisit this section:

  1. Sign in to TurboTax and select Take me to my return.
  2. Click  and search for underpayment of taxes.
  3. Select the Jump to link in the search results.
  4. The Underpayment Penalties screen will display the penalty amount. Select Continue to review this section and make any needed adjustments.
    • Note: If you see No Underpayment Penalty, you either haven't entered your income and/or estimated tax payments yet, or you aren't subject to an underpayment penalty.

(Optional) Keep going, and when you get to the Annualized Income Method screen, answer Yes if you want to see if we can reduce the penalty.

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Level 2
March 16, 2022

Can I efile on turbo tax with form 2210 or must I do paper filing?

Alumni - Intuit
March 16, 2022

You may electronically file IRS form 2210.  The IRS will generally figure your penalty for you and you should not have to file Form 2210.

 

You can, however, use Form 2210 to figure your penalty if you wish and include the penalty on your return.

 

See also here.

 

@slysly01

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