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Level 1
April 9, 2021
Question

Taxpayer has a penalty on her tax return, is that penalty amount included in Form 1040 Line 37 or do we add the penalty to the amount of tax owed on Line 37?

  • April 9, 2021
  • 3 replies
  • 26 views
Tax owed on Line 37 is $1800
Penalty on line 38 is $10
Does the tax payer pay $1800 or $1810?
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3 replies

IRonMaN
Level 15
April 9, 2021

https://www.irs.gov/pub/irs-pdf/i1040gi.pdf

When in doubt, the IRS does provide instructions 

Slava Ukraini!
Just-Lisa-Now-
Intuit Community Champion
April 9, 2021
LOOK at the tax return, look at lines 24 and 33 and do the math.
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BobKamman
Level 15
April 9, 2021

Check the box on Form 2210 to let IRS figure the penalty.  For that amount, they won't.