Tax Penalty is wrong on ProSeries 2024. Need to double check Line 38 1040 and Line 8 Form 2210
The software is inadvertently pulling the wrong amount to line 8 of form 2210. It should be using the prior year's tax as shown on the carryover worksheet line 6, column 1. The quick zoom takes you to the proper line, but it is ADDING an extra 10% to the amount and showing the incorrect amount on line 8 of form 2210. To fix the error you have two options: overwrite line 8 of 2210 with the proper amount as shown on the carryover worksheet line 6. To e-file the return, you will need to tell it ignore the error and it will allow the return to be e-filed. The alternate option is to check box C on the top of form 2210 and let the IRS calculate the penalty and send the letter to your client. You could give your client a heads up of the upcoming letter.
