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mnkerstens
New Member

I have paid $1200 quarterly estimated taxes in WI out of 1461 owed. I have an underpayment penalty. How are my estimated taxes already paid reflected in turbotax?

Why do I have an underpayment penalty in this situation since I have paid quarterly to the state?
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TomD8
Level 15

I have paid $1200 quarterly estimated taxes in WI out of 1461 owed. I have an underpayment penalty. How are my estimated taxes already paid reflected in turbotax?

Did you enter your estimated tax payments into TurboTax?  TurboTax doesn't automatically have that information.  You must manually enter the information in the Deductions and Credits section under Estimates and Other Taxes Paid.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.**

View solution in original post

1 Reply
TomD8
Level 15

I have paid $1200 quarterly estimated taxes in WI out of 1461 owed. I have an underpayment penalty. How are my estimated taxes already paid reflected in turbotax?

Did you enter your estimated tax payments into TurboTax?  TurboTax doesn't automatically have that information.  You must manually enter the information in the Deductions and Credits section under Estimates and Other Taxes Paid.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.**

View solution in original post

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