Calculating interest and penalty

walsh · Post by **walsh** » Thu Apr 05, 2012 3:21 pm

I am filing a 2010 540x with turbo tax, but it doesn't calculate the interest and penalty fields. Anyone know how to do it in turbo tax? Or point me to other source that I can do the calculation manually

nelsona · Post by **nelsona** » Thu Apr 05, 2012 4:12 pm

Let the state calculate it.

walsh · Post by **walsh** » Thu Apr 05, 2012 6:41 pm

You mean the Cali FTB will calculate it? Is there a way I can estimate the potential interest and penalty? I only owe them $300. Or FTB will access this on a case by case basis?

nelsona · Post by **nelsona** » Fri Apr 06, 2012 6:09 am

$300 is nothing for a year. FTB has a fomr. turbotax has an option. But let FTB calculate it, which is what I said isn't it.