I made a first-quarter estimated tax payment in April 2022 on time (the amount was based on the amount TurboTax gave me from my 2021 returns). Then, I made a Roth Conversion later in April and December. The three subsequent estimated tax payments (all made on time) were higher to account for the conversions. I am receiving a federal tax refund for 2022. Why do I owe a $10 estimated tax penalty? Is it because the 1st quarter payment was so low (even though at the time of the 1st quarter payment I had not yet completed the conversion?) I am probably not going to quibble with a $10 penalty but I want to understand this better. (And if it matters, I made payments of more than 110% of the 2021 tax liability.) Thanks.
