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In order to make Schedule AI available, Part II of Form 2210 Underpayment of Estimated Tax by Individuals, Estates, and Trusts must be entered.

To review which situations apply to you and determine if Schedule AI needs to be attached:

  1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
  2. Click Underpayment Penalty in the Federal Quick Q&A Topics menu, then click Yes.
  3. Continue with the interview process to enter all of the appropriate information.
  4. On the screen titled Underpayment Penalty – Farmers and Fishermen, check 2/3 of your gross income from farming/fishing if this pertains to your situation; otherwise click Continue.
  5. On the screen titled Underpayment Penalty – Prior Year Tax, verify the information, then click Continue.
  6. On the screen titled Underpayment Penalty - Cumulative Income, enter your income (excluding capital gains and losses and qualified dividends) specific to the dates provided. Your yearly income has already been pulled into the worksheet based on information you have already entered, then click Continue.
  7. On the screen titled Underpayment Penalty – Short-Term Capital Gains, enter capital gain and loss information on property held less than 12 months that you sold during the year, then click Continue.
  8. On the screen titled Underpayment Penalty – Long-Term Capital Gains, enter your Long-Term Capital Gain information (assets you held more than a year), then click Continue.

Your Form 2210 - Schedule AI - Annualized Income Installment Method form should now be available for you.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.


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