MK2
Level 1

Need guidance on how I enter the annualized method to negate the Form 2210 underwithholding penalties.

Thank you!

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George4Tacks
Level 15

I use a spreadsheet to figure each of the components for 3, 5 and 8 month periods, then inpu . 


Here's wishing you many Happy Returns
MK2
Level 1

Do you know where in ProConnect I input the annualized numbers?  I can't find where in the program to do that.  Thanks.

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George4Tacks
Level 15

In the Underpayment Penalty (2210) section - in fairly faint print right above is "Federal & State" "Annualized Income" "State & Local Annualized" ... Click the one for what you want.

 


Here's wishing you many Happy Returns
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itonewbie
Level 15

@George4Tacks wrote:

I use a spreadsheet to figure each of the components for 3, 5 and 8 month periods, then inpu . 


That's what I do as well.

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Still an AllStar
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