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green_growler
Returning Member

Why is TurboTax generating Form 2210?

I paid 2018 estimated taxes on time in four equal installments which equaled 100% of my 2017 total tax. TurboTax (Windows) generated a Form 2210 "Underpayment of Estimated Tax by Individuals, Estates, and Trusts". I e-filed and my return was rejected because of failure to complete a "Waiver Explanation Statement". Why was Form 2210 created by TurboTax in the first place since I did not underpay my estimated tax?

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3 Replies
mjcasti
New Member

Why is TurboTax generating Form 2210?

Yeah - I paid quarterly payments and paid more than 110% of my previous years' taxes and STILL TT generated From 2210 with Part II Box A checked.  Well... I looked at IRS instructions for 2210, and there's a step by step question thing which basically says - yeah you did meet the 110% exception AND you qualify for the 85% waiver so you must complete 2210 with Part II Box A checked. l KNOW - this doesn't make any sense but somehow the 110% exemption (or probably most quarterly payment situations) fall into that category.  I swear you have to be able to make the simplest thing very complicated, in order to work for the IRS.

Why is TurboTax generating Form 2210?

It has to do with the timing of the payments and how the IRS spread outs your income evening over the course of the year (which you are permitted to override if your income was “lumpy”

There are a few bugs others have reported

By chance did you write in a reason (even if a dummy reason) in the explanation section ? It doesn’t create a red exclamation point if you don’t (another big on my view) . Manually click the error button in Forms View
CheriS
Intuit Alumni

Why is TurboTax generating Form 2210?

As of today (3/8/19) Form 2210 issue is fixed. Please update your TurboTax software. If you are using TurboTax Online, it is updated automatically. Please sign out, clear cache/cookies and sign back in. 

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