Penalty for Late Estimated Tax payment

[ldamario]

Does TurboTax include the form for calculating the penalty for late payment of an estimated tax payment? I believe you are required to submit this form with your tax return.

[KochuK · Accepted solution]

If Form 1040, line 38 "Estimated tax penalty" has a number, then Form 2210 Underpayment of Estimated Tax by Individuals, Estates and Trusts should be part of your tax return.

You can access the calculation via Federal > Other tax situations > Additional Tax Payments > Underpayment Penalties.

Below is what IRS says:

Quote

Figuring the Penalty

If you choose to figure the penalty yourself, use Form 2210.

Because Form 2210 is complicated, you can leave line 38 blank and the IRS will figure the penalty and send you a bill.

Unquote

Page 63 of https://www.irs.gov/pub/irs-pdf/i1040gi.pdf

[ldamario]

Okay. Thanks.