Question

Annualize income (ability to edit)

Forum|Forum|2 years ago
February 18, 2024
1 reply
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After all data was entered, one is given the opportunity to annualize income to reduce penalty. If I need to go back and edit this - How do I get there?

M

MonikaK1

To review underpayment penalties, in TurboTax Online:

Open return and choose Other Tax Situations
Choose Underpayment Penalties
If asked "do you want to review estimated taxes" choose Yes
If a penalty was calculated, you should see the option to annualize to possibly reduce penalty

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