[CuriousGirl]

AtlantaTaxExpert:

On behalf of everyone on this forum, a huge THANK YOU. May you be blessed abundantly for your charity :-)

I have a question re: Form 2210... how do I know if I need to fill it out?

Also, in the case that I do have to fill it out, is it OK to go with the advice I read on TurboTax which claims that as long as I pay my taxes before the 15th, and even if I don't file 2210, the IRS will simply send me a bill asking for the penalty without charging any interest?

Please advise.
THANKS!!
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Line 56: 0
Self-employment tax: 845
Education credits: 1148

[AtlantaTaxExpert]

CuriousGirl:

If Line 56 of Form 1040 is zero, and your SE tax is $845, then your total taxes owed should only be the $845 in self-employment taxes.

Even if you have nothing withheld, your tax liability is less than $1,000.

You do not need to fill out Form 2210. If you pay the $845 by Friday, there will no additional interest or penalties.

[CuriousGirl]

I used Turbo Tax to file.

The software asked me to fill in the time I spent in my state as well as the sales tax percentage in the state (8.25 percent)... based on this information alone, the software said I was entitled to a $700 sales tax deduction.

It seems suspect to me that they can come up with that number based only on what I had entered (sales tax rate and residency dates).

Should I be concerned?

Thanks for your humble service :)

[AtlantaTaxExpert]

CuriousGirl:

That's not the only information TurboTax uses; it's only what is explicitly asked for.

The $700 sale tax deduction is based off your Adjusted Gross Income and is determined by a formula dictated by the new tax law.