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New TurboTax Update 2/25/2021 has an error in calculating the Form 2210 Part IV Underpayment Penalty

The error concerns line 26 in column (a) and line 20 in column (c). Any Overpayment in Line 26 should be transfer to Line 20 of column (c), but it does not. Instead, the program enters the Overpayment in Line 20 of column (b). (Column (b) should have no entries since there were only 3, not 4 Estimated Tax payment due dates in 2020. The result of this error is that any overpayment of Estimated Tax for the 7/15/2020 period, the first period, is not considered in the calculations of  overpayment or underpayment in column (c), the second period due date. This causes any overpayment for period 1, column (a) to not be considered in calculating the penalty for underpayment.

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2 Replies
rl01
Returning Member

New TurboTax Update 2/25/2021 has an error in calculating the Form 2210 Part IV Underpayment Penalty

I reported this too, and actually spoke with a knowledgeable rep on 2/28/2021. They acknowledged this was an obvious error and were elevating this issue.  Let's give them a few days. They typically release weekly.

New TurboTax Update 2/25/2021 has an error in calculating the Form 2210 Part IV Underpayment Penalty

Yep, I noticed the same error -- but only after I had filed.  Since I did not owe a penalty and the bottom line was what I expected, I filed without checking the details.  I suspect that the IRS won't bother to reject it.

However this sort of error and TurboTaxes tardiness in correcting it is inexcusable , and I will try H&R Block software next year.

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