My wife works and I am a retiree with RMD and Soc Sec Income. We also have investment income. For 2023 tax year, we had both withholding and quarterly Estimated Tax payments with the result that we had a net fed tax refund. However, Turbotax said we owed a fed Tax penalty because we did not have enough withholding! Why is penalty determination done on the basis of Withholding ONLY and not also taking into account Estimated tax payments?
