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BobinNJ
New Member

Recalculating penalty in Form 2210

I am recalculating the penalty based on (C) My income varied during the year. The TurboTax form 2210 will not allow me to change the standard deduction (Schedule AI, Line 7) to include the Enhanced Senior Income Dependent Deduction for those quarters for which I am eligible for it. 

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5 Replies
AmyC
Employee Tax Expert

Recalculating penalty in Form 2210

Correct, line 7 is not used for the enhanced deduction, line 14 is. 

Instructions for Form 2210, Underpayment of Estimated Tax by Individuals, Estates, and Trusts - line 14 instructions (on page 10) states: You may adjust your 2025 taxable income here for any provision you did not account for elsewhere on Form 2210 before calculating your 2025 tax subject to underpayment of estimated income tax. Schedule 1-A (Form 1040) 2025 provides for new additional deductions for qualified tips, qualified overtime compensation, qualified passenger vehicle loan interest, and the enhanced deduction for seniors

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BobinNJ
New Member

Recalculating penalty in Form 2210

Whether to put the Enhanced Senior deduction into Line 7 Standard Deduction or Line 14 Compute Tax (and account for any other deductions) can be debated. But, it doesn’t solve the fundamental problem! TurboTax will not allow the user to change either of these fields. 

user17705283360
Returning Member

Recalculating penalty in Form 2210

I'm having the same problem.  Turbo Tax won't let me change form 2210 AI line 14.  When the program is calculating the annualized tax due for each of the first 3 periods, it looks like it is applying the same value for the enhanced senior deduction to all 4 periods (using the enhanced senior deduction for the last period for all 4 periods, rather than calculating what it would be based on the annualized AGI for each of the other 3 periods).  I suppose we could fudge the entered AGI values for the 1st three periods to compensate for this, but I think Turbo Tax should either calculate the enhanced senior deduction based on the annualized AGI's for the first 3 periods, or let you change line 14 as called for in the instructions.

user17705283360
Returning Member

Recalculating penalty in Form 2210

OK, TurboTax will let me update the line 14 values for form 2210 schedule AI.  To do this I had to right click on the value that I want to change, a context window opens and I selected "Override", then the value can be changed.

BobinNJ
New Member

Recalculating penalty in Form 2210

This doesn’t work for me. Because I’m working in the desktop version? On a Mac? Because I downloaded an upgrade between the time the suggestion was made and I tried it (the upgrade wiped out Form 2210, BTW)?

Of course, the problem is not restricted to Line 14. If your income varies by quarter, it stands to reason that the taxes paid also varies by quarter. TT needs to unblock all the user-specific fields.

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