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December 5, 2019
Question

Error on Annualized Income Other Credits for Underpayment Penalty?

  • December 5, 2019
  • 1 reply
  • 0 views

When going through the calculation of an underpayment penalty, Annualized Income, it asks me to allocate Other Credits and re-fills a full-year total of >$2,000.  Clicking the "Show Me My Credits" button, it brings up Schedule 3, which shows two line items for <$100 and this total of over $2,000.

 

When I look at Schedule 3 in the Forms viewer, the total is the correct <$200 sum of the two line items.


Where did this extra $2,000+ credit to allocate come from.  Software bug?

1 reply

Critter
Employee
December 5, 2019

The form 2210 is NOT operational yet ... watch the charts for a date when posted :

 

When will my forms be ready?

Historically, IRS tax forms start becoming available in January, with a few stragglers (most notably Form 1040X) getting finalized in February.

State tax forms can become available for filing any time between December and late February, depending on the state and the tax form.

For specific forms and dates, refer to the Forms Availability Table for your TurboTax product, see the related information below.

 

Can I Still Work On My Return Before My Forms are Ready?

Yes, according to the following:

Federal Taxes
You can still work on your return and finish most of it. Once your forms become available, we’ll create the forms and include all of your info.

You’ll only be able to e-file or print your return once the forms are available.

While you’re working on your return, we’ll ask if you want to receive email updates when your forms become available.

State Taxes 
If your forms aren’t available, you’ll get a message asking you to return once they become available.

While you’re working on your return, you’ll have a chance to let us know you want to receive email updates when your forms become available.

Related Information:

           IRS Forms Availability Table for TurboTax Individual (Personal) Tax Products

·         State Forms Availability Table for TurboTax Individual (Personal) Tax Products

·         IRS Forms Availability Table for TurboTax Business

·         State Forms Availability Table for TurboTax Business

·         What does "Tax Form Under Construction" mean?