Turbo Tax indicates that I owe a $400 penalty on my State of Minnesota taxes even though I met the state's safe harbor requirements. I used the annualized calculations for the federal taxes and avoided the Fed. penalty (a large cap. gains income was experienced in the 4th quarter and I met the fed. safe harbor requirements.) Where do I go to clear out the penalty for the State of Minnesota filing?
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If you're using TurboTax Desktop, select Forms > under Forms In My Return select Open Forms > Navigate to Schedule M15 to add the state underpayment sheet > select Step-by-Step (upper right) and follow the question prompts to complete the form.
If you're using TurboTax Online, select State Taxes from the left-hand side menu, select Revisit next to your MN return, and follow the prompts until you reach Other Situations > select Underpayment of Estimated Taxes
Thanks, I think I have what I need.
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