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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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.
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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