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Income Annualization for Form 2210

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Income Annualization for Form 2210

jberrier

It would be great if Lacerte could feature a quick and convenient way to perform income annualization for Form 2210 estimated tax penalty calculations.  Since the software automatically assumes income is earned evenly throughout the year for Form 2210, it would seem like it would be simple enough for Lacerte to include a feature whereby a date could be entered for an item of income or expense (for example: capital gains distributions all earned during the month of December).  Then the software could automatically annualize the income.  This would be much more convenient than making manual calculations on a spreadsheet and then entering on the Lacerte input screen.

 

 

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