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DB991
Level 2
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  • Re: Underpayment Tax Penalty

    The methodology depends on whether or not you had taxes paid/withheld per a W2. What I've read before is if you had W2 tax withholding the IRS just uses the Apr...
    DB991
    Updated Mar 03, 2025

  • Re: Underpayment Tax Penalty

    @deci37 Glad to hear it worked!Did you use TT last year? This is my first year using TT; I've always used H&R Block's software and have been pleased. But I got ...
    DB991
    1
    Updated Mar 03, 2025

  • Re: Underpayment Tax Penalty

    @deci37Did you check the 2022 tax amount paid in "Other Tax Situations"/"Underpayment penalties"? TT had mine as zero, but when I updated it to the actual amoun...
    DB991
    3
    Updated Mar 03, 2025

  • Re: Underpayment Tax Penalty

    I agree that the way 2210 reads that line 6 defines the safe harbor cut off. But something more is happening in the background that seems to override the first ...
    DB991
    Updated Mar 03, 2025

  • Re: Turbo tax website for how to estimate 2024 quarterly taxes asks ...

    I pay the safe harbor amount (100% of last year's tax or 110% for AGI) >150k joint returns) in 4 equal amounts. That's how I avoid this IRS trap.https://turbota...
    DB991
    Updated Mar 27, 2024
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