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Level 2
posted Mar 8, 2025 7:43:58 AM

Turbotax 2024 estimated taxes were calculated wrong

Received a penalty letter from the IRS.  It appears as if Turbotax incorrectly excluded a $500 energy efficiency credit from the 2023 basis year.  As a result I missed the 110% threshold for safe harbor.  Has anyone else seen this problem?

0 2 1403
2 Replies
Employee Tax Expert
Mar 13, 2025 6:31:55 PM

Please see this link to submit a claim as you may qualify under one of the TurboTax guarantees.

Level 15
Mar 14, 2025 6:15:59 AM

If I remember right, early versions of 2023 TurboTax had a bug related to this energy credit, so, if you filed early, the Forms 1040-ES produced by that version of 2023 TurboTax might have been erroneous.  Forms 1040-ES produced after the bug was corrected would likely show a different amount needed to satisfy the safe-harbor.