3606753
Like the title says, I have underpayment penalty because my tax withheld is just shy of the 110% of the previous year tax paid. Turbotax Deluxe Desktop gave me the option to try "treat the tax withheld as paid when it was actually withheld" to see if my penalty would be lower. It turns out to be higher than doing "being paid in four equal quarterly installments". I want to switch, but re-doing the interview isn't changing this. Most importantly, I'm unable to uncheck box D in Part II of form 2210 since I want to do 4 equal installment option. How do I do this now? I cannot startover
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The Annualized Income worksheet doesn't get filed with your return, and you are not required to complete it. It's meant to help you in planning your estimated payment amounts. You're not required to make estimated payments, and not required to use the vouchers that TurboTax prints out. You can make estimated payments directly at the IRS Website, or use the vouchers and pay any amount you wish.
The simplest way to annualize your income would be to divide your annual income by four and use that amount on the worksheet, adding any large amounts you expect to receive next year.
You could delete Form 2210 from your return and let the IRS figure any penalty due and bill you. If you had unexpected income in 2024 that you don't receive regularly, you may not owe a penalty.
Here's more detailed info on Form 2210.
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