Why doesn’t TurboTax business figure out my failure to pay estimated taxes fine?

Forum|Forum|1 year ago
April 9, 2025
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I am the trustee of a trust. This is the first year it had capital gains. I was surprised that I needed pay taxes on those gains let alone make estimated tax payments. Even more surprised that TurboTax business did say anything about the fine.

Eric

Ask the Experts - Tax Due - April 2025

RobertB4444

It is your first year. TurboTax calculates a fine based on the prior year's tax return.

@3r1c

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3r1cAuthor

It’s the first year the trust has had to pay taxes, not the first year filing a return.

RobertB4444

The system may have decided that it was better that the IRS figure the penalty in the first year? I'm not sure why it wouldn't recommend the penalty as part of the taxes due. But since you filed on time the late payment penalty should not be any higher today than it would have been when you filed.

@3r1c

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