I paid Minnesota Estimated tax but Line 7 of Sched...
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
dan105
New Member

I paid Minnesota Estimated tax but Line 7 of Schedule M15 (quarterly taxes you made for 2020) is blank. Now it says I have an underpayment penalty.

 
2 Replies
LenaH
Employee Tax Expert

I paid Minnesota Estimated tax but Line 7 of Schedule M15 (quarterly taxes you made for 2020) is blank. Now it says I have an underpayment penalty.

You must enter your estimated tax payments made for the 2020 tax year on the estimated payments screen. In addition, make sure you also enter the state, date paid and amount paid for each quarterly payment to ensure it flows correctly to your state return. 

 

To enter your payments, you can follow the steps below: 

  1. Open your tax return.
  2. Search for estimated tax payments with the magnifying glass tool on the top of the page. 
  3. Click on the Jump to estimated tax payments link at the top of the search results.
  4. Click on Start next to State estimated taxes for 2020.
  5. Select yes for the question Did you pay state estimated taxes for 2020?
  6. Follow the on-screen instructions. 
dan105
New Member

I paid Minnesota Estimated tax but Line 7 of Schedule M15 (quarterly taxes you made for 2020) is blank. Now it says I have an underpayment penalty.

Actually I had entered the estimated taxes for each quarter but reviewing the info I discovered they had the incorrect dates of 7/15, 7/15, 9/15 and 01/15 instead of 4/15, 6/15, 9/15 and 01/15 for both Fed and State.  Once corrected the underpayment penalty went away.   I am assuming TT used those dates by default as the IRS changed the due dates estimated taxes.    So I am wondering if a person had actually waited for those dates to pay their estimated taxes they are subject to a potential underestimated tax penalty or if its a bug in TT.   Anyway its now  fixed.  Thanks.

Dynamic AdsDynamic Ads
v
Privacy Settings