TaxableTurtle1
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Yes the $22 you spotted is correct. I am trying to find out if Refund amount on line 53 should be reduced by the penalty amount on the MA Form 1.
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Thanks you but I'm sorry because I'm a bit confused - I was asking 2 separate questions and now I'm worried I confused things because I got only 1 answer which ...
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@DMarkM1wrote:No. According to the IRS here you would not be subject to penalty if you have zero tax liability in the previous tax year.You may avoid the Underp...
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Thanks a lot. There is some nuance in this so I appreciate you confirming my understanding.I don't HAVE to pay, on account of my $0 2022 tax liability. But ther...
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It will change because as I said in the first post, in 2022 I owed $0 and in 2023 I might have a gain of $50,000 at most.The link you just sent me says "The saf...
Activity Feed for TaxableTurtle1
- Posted Re: MA State Tax. TurboTax coversheet says I'm owed a $7 refund after penalty/fees. My printed tax form says I'm getting $29. Error? on State tax filing. October 15, 2023 7:37 AM
- Posted MA State Filing. Refund amount on the form is wrong. Should Refund amount be reduced by the penalty on MA tax form? on State tax filing. October 15, 2023 7:34 AM
- Posted MA State Tax. TurboTax coversheet says I'm owed a $7 refund after penalty/fees. My printed tax form says I'm getting $29. Error? on State tax filing. October 14, 2023 5:13 AM
- Posted Re: Bought a PTP stock and got a K-1 and Form 1065. I bought and sold at different prices. on Investors & landlords. April 18, 2023 10:39 AM
- Posted Re: Confused about whether I have to pay IRS Federal estimated tax on Get your taxes done using TurboTax. April 17, 2023 5:14 PM
- Cheered Re: Confused about whether I have to pay IRS Federal estimated tax for DMarkM1. April 17, 2023 5:13 PM
- Posted Re: Confused about whether I have to pay IRS Federal estimated tax on Get your taxes done using TurboTax. April 17, 2023 11:08 AM
- Posted Re: Confused about whether I have to pay IRS Federal estimated tax on Get your taxes done using TurboTax. April 17, 2023 10:32 AM
- Posted Re: Bought a PTP stock and got a K-1 and Form 1065. I bought and sold at different prices. on Investors & landlords. April 17, 2023 10:27 AM
- Posted Re: Confused about whether I have to pay IRS Federal estimated tax on Get your taxes done using TurboTax. April 17, 2023 8:48 AM
- Posted Confused about whether I have to pay IRS Federal estimated tax on Get your taxes done using TurboTax. April 17, 2023 8:01 AM
- Posted In April 2022, I filed for 2021 state tax extension. With the extension I also paid $470. I owed $460 and $10 was an underpayment penalty. Need to figure my state taxes paid in 2022 deduction on this year's filing. Do I use $460 or $470? on Get your taxes done using TurboTax. April 16, 2023 3:59 PM
- Posted TurboTax wants to know how much I paid in taxes last year, it's confused by the fact I paid a penalty last year. on Get your taxes done using TurboTax. April 16, 2023 2:58 PM
- Posted Re: I bought a stock and sold it about a week later. It was a PTP and I got a K-1 form and also a FORM 1065. TurboTax asked if I disposed of a PORTION of my interest in partnership during 2022. on Investors & landlords. April 16, 2023 9:51 AM
- Cheered Re: I bought a stock and sold it about a week later. It was a PTP and I got a K-1 form and also a FORM 1065. TurboTax asked if I disposed of a PORTION of my interest in partnership during 2022. for Mike9241. April 16, 2023 9:49 AM
- Posted Bought a PTP stock and got a K-1 and Form 1065. I bought and sold at different prices. on Investors & landlords. April 16, 2023 9:48 AM
- Posted I bought a stock and sold it about a week later. It was a PTP and I got a K-1 form and also a FORM 1065. TurboTax asked if I disposed of a PORTION of my interest in partnership during 2022. on Investors & landlords. April 16, 2023 9:12 AM
- Posted Why does my Fidelity taxable brokerage 1099-B have "Short-term transactions for which basis is not reported to the IRS" but it actually seems to have all the cost basis information? on Investors & landlords. April 14, 2023 3:44 PM
- Cheered Re: Yesterday I filed my Massachusetts state tax extension ONLINE using TurboTax Easy Extension W... for AmyC. April 20, 2022 6:32 AM
- Posted Delete on Get your taxes done using TurboTax. April 19, 2022 9:52 AM