I do not believe the PA underpayment penalty is being calculated correctly. The penalty is sensitive to the distribution of income over the year. I moved all of my income to the last quarter, but the penalty did not change. When I look at the source form, the quarterly amounts are not being inserted. Something is wrong. How can I get help with this?
Thanks.
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TurboTax Live is for online products. I have the desktop version. But it sounds like a great feature and I would use it if it were available for desktop version. I think there is something wrong in TurboTax calculations in this sense - for Rev 630 Exception 2. If I enter the distribution of quarterly income (A), TurboTax does not calculate the tax on that distribution (B), or 90% of B (line 13). Once I enter line B and 13 in the form, the penalty is dramatically reduced. I've looked at the instructions for that form and I think I am right. And if you could get this message to the powers that be, it would be appreciated.
Ref: Case [social security number removed]
I contacted support. They insist that it is being done correctly. However, I believe it is not in the case where income is distributed disproportionately towards the end of the year. However, I could go into the Rev-1630 form and manually insert the numbers for the calculation. Problem solved.
We are unable to see your return here in the Community. The TurboTax calculations are correct. To manually override the penalty amount could lead to additional penalty and interest from the state when they receive your return.
It is best to have and agent look at your return and the calculation of the penalty to explain to you how it was calculated.
To have an Agent look at your return with an Offline Review to answer your question or to schedule a time to talk to an Agent with a Live Review see What is TurboTax Live? - Community.
TurboTax Live is for online products. I have the desktop version. But it sounds like a great feature and I would use it if it were available for desktop version. I think there is something wrong in TurboTax calculations in this sense - for Rev 630 Exception 2. If I enter the distribution of quarterly income (A), TurboTax does not calculate the tax on that distribution (B), or 90% of B (line 13). Once I enter line B and 13 in the form, the penalty is dramatically reduced. I've looked at the instructions for that form and I think I am right. And if you could get this message to the powers that be, it would be appreciated.
Ref: Case [social security number removed]
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