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New Member

form 2210

I was linked in a paid to have my taxes done but after I printed it i have questions on how the form 2210 is completed.  can someone call me to explain why I needed to put in $50000 in each column when I only drew out that amount in January 2019?   would it make a difference in my taxes if the other middle columns were blank?  there was no way to do that and I was advised by the CPA to enter the $50,000 in each column.     THANK YOU.

3 Replies
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Expert Alumni

form 2210

It depends on why the CPA told you to enter $50,000 in each column. Form 2210 is designed to capture uneven income flow throughout the year. 

 

By saying you drew out an amount in January, 2019, you must be referring to Annualized Wages.

Overstating any part of this form that only happened in one quarter by posting it in all four quarters would not produce an accurate return.

 

You may also need to complete Form 2210 for your state.

 

Click the link for steps: 

How Do I Add Form 2210?

How do I amend my return?

@1Kimber123

 

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Level 15

form 2210

the way the annualized income part of the 2210 works is that on line 1  column 1 - your adjusted gross income for the first 3 months of the year column 2 AGI for the 1st 5 months column 3 the first 8 months column 4 your agi for the entire year

 

 

similar computations for line 4 if you itemized. 

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Level 15

form 2210