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Question

Why did TurboTax not calculate underpayment tax for 2024?

Forum|Forum|10 months ago
May 28, 2025
1 reply
0 views

On past filing TurboTax automatically calculated this underpayment penalty

TT likely determined you didn't have a penalty based on the info it's been given. You need to have paid by withholding or estimated tax during the year, the smaller of 100% of 2023 tax (110% if AGI > 150k) or 90% of 2024 tax. I'm guessing if you calculate this amount in your case you will find no penalty was due. If you are using desktop TT in forms mode you can double click thru line 38 on Form 1040 and again on the worksheet to bring up the Form 2210 calculation.

Otherwise, pls post more details and maybe someone here can help further.