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CA underpayment penalty 2019

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Level 1

Is there an error with CA Form 5805? Income is over $1,000,000 and I did not pay in 90% of 2019 tax liability. No underpayment penalty is being calculated though??? The form says "exception met", but I do not believe one was...

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3 Replies 3
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Level 15

Withholding is at least 110% of the 2018 tax?


ex-AllStar
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Level 1

Yes, but that shouldn't matter since 2019 income is over the $1M mark. 

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Level 15

Highlight the return and use Ctrl + L to send it to Lacerte with your notes. That way they can more quickly fix the bug in the program.

 


ex-AllStar
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