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P
prkhey
February 5, 2022
Question

Will turbotax figure a Michigan state tax penalty for not having enough state withholding?

  • February 5, 2022
  • 1 reply
  • 0 views
Not enough money was withheld for Michigan withholding from some inherited 401ks. The tax burdon is being transfered from the estate to the inheritor.

1 reply

M
MAK70
February 5, 2022

Yes, TurboTax will calculate the Michigan underpayment penalty and look for any exceptions that can can be used to reduce the amount.

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