Turbo Tax 2020 not adding Form 2210 for underpayment penalty

[proteus1966]

I accidentally discovered if you open up your 1040 form and double click on your penalty amount, the program takes you to a 1040 worksheet where you'll see you'll penalty listed again. Double click on the penalty amount there and then your Form 2210 will appear.  You can print out the underpayment worksheet, but if you try to print out the actual form 2210 you'll only be able to print the first page of the form. I don't know why. I'm using a Mac laptop and maybe that's why. Who know, but I had to take screen shots of the rest of the form and print them out in order to have a hard copy of the entire Form 2210! What a pain, but at least you can see how TT calculated the penalty. Hope this helps.  In my case I don't have to actually file the form because I didn't need to check any box in part III of the 2210.

[DawnC]

If you are paying the penalty with your tax return, Form 2210 should be filed with your return.  You would include it even if you are not requesting a waiver or using the annualized income method to compute the penalty.   But the Form has been finalized in TurboTax, both desktop and Online.  If you e-filed without error, Form 2210 was included (if you had an underpayment penalty).  If you are filing by mail, Form 2210 should print out with your finalized return.  @proteus1966

[rjsl]

Check the math on IRS Form 2210 Line 16.  The calculation doesn't result in an accurate penalty reduction.  It creates a penalty reduction credit of nearly double the amount which results when a manual calculation is used.  I filed today after TT updated this form.  Looks like may have underpaid the penalty .  I shouldn't have been so eager to file and I shouldn't have to verify that TT's math is correct.  

[Mary6017]

@Itsmeeee 

Well I ended up doing I went back to my info and started back at federal and then went into other tax situation and updated my 2210 there and then went through the process to the end and everything was calculated fine and the 2210 was there when I printed out all my forms so I don’t know what happened there with you. Good luck 

[Mary6017]

@Itsmeeee  Level 2

Well I ended up doing I went back to my info and started back at federal and then went into other tax situation and updated my 2210 there and then went through the process to the end and everything was calculated fine and the 2210 was there when I printed out all my forms so I don’t know what happened there with you. Good luck 

[proteus1966]

 Hi, @DawnC, in reference to Form 2210, I do owe a $13 penalty that TT calculated, but the instructions at the bottom of the form 2210 itself says not to file Form 2210 unless I checked a box in Part II of the form.  None of the situations in Part II apply to me so I didn't check any of the boxes. When I run a final check of my return, Form 2210 doesn't appear, but the penalty is still listed on my 1040  line 38.  

I did see, however, that at the very beginning of Form 2210 is a section of different choices you can select from.  If I check the box next to Statement D then Form 2210 does instantly appear listed in the list of tax forms on the left-hand side box of my screen, but I am not sure I want to do that since the form will be filed along with the rest of my return and the instructions specifically say not to file Form 2210 unless I checked a box in Part II.  I feel like I should file it anyway, but will it cause a problem with the IRS? 

[Chloe31]

My husband got divorced this year so it's been rough

[twobucks]

Thanks..that was "one" of my problems with Form 2010 and TT. Interesting you found out how to do that by chance...thk again

[x703jko]

My forms are up to date.  Turbotax is calculating a small tax penalty but there is no form 2210.  And the software isn't flagging any errors.  It says I'm ready to file.

Please advise.

Thanks

[MichelleLO]

Can you please be more specific, what do you need help with?

@x703jko

[AmirK]

form 2210 is added for me but I am still getting the error: 

Line D withholding. The sum of the four column is not equal to your total withholding. 

i have entered tax withholding for three period:

1/1/2020-7/15/2020 

7/16/2020-9/15/2020

9/16/2020-12/31/2020

however, the values that show up in the error is all messed up. This boxes are not aligned and one of the entries is $73 off from what I have entered so obviously the sum of three period is $73 lower than the expected federal tax withholding. How am I supposed to solve this issue? 

[Tax4647]

Still having issue with form 2210 Line D and it sounds like another user is having a similar issue as of yesterday. Recent computer update done. Tried deleting the 3 columns (periods for 6.5, 2.75 and 2.75 months of the year), and re-entering the numbers. In error check, TT is only asked for me to change first period 6.5 months. All numbers add up to the total. 

In error check, TT changed 2nd and 3rd column numbers to the total divided into 6 month, 3 month 3 months, so I tried to delete the numbers and enter the total such that it was following what TT was entering in the error form 2210, but that didn't work either. 

[bhtn75]

As of 3/1/2021, Form 2210 Part IV still has an error in that the first period's estimated tax payment and withholding amount is not added to the other period's estimated tax payments and withholding in determining whether a penalty is to be imposed. This error was brought to TT's attention yesterday but it has not yet been resolved and an update issued. If you have filed Form 2210 since it became available on 2/26/2021 and a penalty was imposed, it is suggested that you check to see if the penalty is reduced or eliminated after this error has been corrected and the update released. 

Check your return, if Part IV  shows an overpayment on Line 26 in column a and does not show this same amount in Line 26 in column b and Line 20 in column c, your first period's overpayment has not been taken into account if figuring any penalty.

[Spino]

As of 3/1, the form is implemented in TT and listed as "available" on the forms page.

However,...

There is a mistake on the form as currently implemented in TT desktop, and perhaps all versions. Specifically if you have an overpayment in the first quarter/two quarters because of the covid change, it does not properly apply to the third quarter. The mistake can be corrected by overriding line 18 column b, which is blank, with a 0. However, if you override an entry, then TT will not allow you to e-file.

Hopefully the IRS is not making this error, but just TT, in which case if the IRS calculates the penalty, you should get the right result. This situation only applies if you have an overpayment in quarter 1/2 (combined this year.)

[Spino]

You should be fine, unless your penalty would be lower if you gave them more information. An example of this is when you have income unevenly spread through the year such that your penalty will be lower if you show how the income was spread out. (Income later in the year incurs less of a penalty.)

Also when you get the word from the IRS, you can still file an amended return if the difference is worth it.