Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Apr 11, 2024 12:57:43 PM

I have no clue what number to put on form 2210. Since I increased my tax with holding do I need this anyway?

0 5 1841
5 Replies
Expert Alumni
Apr 11, 2024 1:44:27 PM

Form 2210 has many numbers, which one do you refer to?

 

However, if you don't have an underpayment penalty that you want to claim exemption from, you don't have to add a 2210.

 

So what are you trying to do?

New Member
Apr 11, 2024 2:15:09 PM

Line D.  I had a 35.00 penalty.  There are only 3 boxes for that line when there should be 4

Expert Alumni
Apr 11, 2024 4:49:15 PM

Line D in what Part? The only Line D that I see is a checkbox (in Part II).

New Member
Apr 11, 2024 6:00:23 PM

On form 2210 if you scroll dpwn to part II it shows you 4 dates to pay an equal amount each quarter.  But the form itself only has 3 spots to put numbers in.  It has to be a glitch in the program but how can I get around it?  If turbo didn't already deduct money out of my checking I would say screw it and go somewhere else,

Expert Alumni
Apr 11, 2024 6:25:48 PM

Check the option to let the IRS bill you for the penalty, or tell TurboTax to include it and file your return.   Or you can request a waiver if you qualify.   But you don't have to enter those fields, unless you are annualizing your income in order to try to reduce it (it doesn't always work).   To do this (annualizing), you need to know your income and expenses for these periods:

 

 - January 1 through March 31

 - January 1 through May 31

 - January 1 through August 31

 

This method benefits you most when you received most of your income later in the year.   You can say NO to using the annualized income method.   Search for penalty, use the Jump to link, and you go back through the Form 2210 questions and options.   

 

If you say no to annualizing your income and No to applying for waivers, the next screen says Let the IRS bill me.   You can receive a bill or just add the already calculated penalty to your return and pay it with the return.   Click through the screens until you come to this screen:    See Underpayment penalties - IrS