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January 20, 2024
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How does Turbotax handle 2023 California disaster tax relief?

  • January 20, 2024
  • 1 reply
  • 0 views

Background: https://blog.turbotax.intuit.com/tax-news/irs-provides-tax-relief-for-california-storm-victims-53808/

 

  • Quarterly Estimated Tax Payment: Tax Year 2022 4th quarter estimated tax payment with a deadline of January 17, 2023 and Tax Year 2023 estimated tax payments normally due April 18, June 15 and Sept. 15 have been extended until November 16, 2023. This means that individual taxpayers can skip making the fourth quarter estimated tax payment, normally due January 17, 2023, and instead include it with the 2022 return they file, on or before November 16.
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I elected to skip the April 18, June 15 and Sept. 15 1040ES payment in 2023 and paid the aggregate amount before November 16, 2023. However TurboTax still counted the penalty. Additionally I didn't see Form 2210 generated. 

    Best answer by RobertB4444

    If you go over to the 'underpayment penalty' section under 'Other Tax Situations' you should be able to remove the underpayment penalty from your return by telling the system that you want the IRS to figure the penalty.  That will solve the problem.

     

    @stanleyli 

    1 reply

    January 24, 2024

    If you go over to the 'underpayment penalty' section under 'Other Tax Situations' you should be able to remove the underpayment penalty from your return by telling the system that you want the IRS to figure the penalty.  That will solve the problem.

     

    @stanleyli 

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
    stanleyliAuthor
    January 26, 2024

    Yes, there is a place that I can choose we were affected by natural disaster. Thanks.