Oklahoma SCorp Program Caused me Penalty and Interest

Forum|Forum|1 year ago
May 9, 2024
1 reply
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The OK SCorp program (512-S) of the Turbo Tax Desktop Business program did not provide a way to enter and submit OW-8-P-SUP-C, which annualizes my business income over 4 qtrs, allowing me to avoid penalty and interest for underwithholding.

This is very disappointing and has caused me another $100 or so. OK requires efiling of the 512-S so I was stuck with that and being unable to incorporate the OW-8-P-SUP-C form in the filing.

Can a Turbo Tax admin look into this and get back to me ASAP?

TurboTax Business Windows

KristinaK

Employee

TurboTax does not support Form OW-8-P-SUP-C.

To use the annualized income installment method to figure out the underpayment penalty, in Forms Mode, check the box on Form OW-8-P and manually enter the required annual payment on line 9 for each quarter. You will also need to attach manually filled out Form OW-8-P-SUP-C to your return and then file.

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BoydBob1Author

Kristina - I couldn't see how to attach the form to my efiling. If you're saying to attach the form to a filing that I mail in to Oklahioma - well Oklahoma requires 512-S to be efiled, so can't do that. Need Turbo Tax to add support for form OW-8-P-SUP-C