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RS8
New Member

Does the amount TurboTax displays that I owe include the late penalty?

I am filling a 2013 late and I owe money.  Does the amount TurboTax displays that I owe include the late penalty or do I need to calculate the amount owed myself to include the penalty? 

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New Member

Does the amount TurboTax displays that I owe include the late penalty?

TurboTax does not calculate the penalties or interest.  You can estimate these amounts if you choose to do so and include them in your payment.  In any case, CRA will calculate the applicable late filing penalty and interest and advise you of the amount on your Notice of Assessment

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2 Replies
New Member

Does the amount TurboTax displays that I owe include the late penalty?

TurboTax does not calculate the penalties or interest.  You can estimate these amounts if you choose to do so and include them in your payment.  In any case, CRA will calculate the applicable late filing penalty and interest and advise you of the amount on your Notice of Assessment

View solution in original post

New Member

Does the amount TurboTax displays that I owe include the late penalty?

Just one additional thought, if you have not already filed your 2013 return and plan on net filing this return, you only have until about mid January to do this.  After that time, this option will not be available and you will have to paper file the 2013 return.