Lots of people have income that varies during the year. To avoid the penalty, you have to report all of this by quarter on the tax return, which is harder to keep track of.
Here is further information from the IRS explaining how to qualify to have an reduce or remove a penalty.
https://www.irs.gov/payments/underpayment-of-estimated-tax-by-individuals-penalty#:~:text=Remove%20o...
I hope that answers your questions. Please feel free to give TurboTax a call anytime if you have additional questions or need assistance.
Have a great day!
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
