@Stsxoz wrote:
Thank you!
This will be the first time I will be paying taxes on a return I am preparing with Turbotax. Do I have the option of calculating and adding the penalty and interest to the payment while completing the payment on TT?
There is no where on a tax return to indicate that a payment is being made for penalties or interest.
It is the IRS that calculates the amount of penalty and interest owed after they receive the tax payment.
Go to this IRS Tax Topic which has a wealth of information concerning penalties and interest - https://www.irs.gov/taxtopics/tc653
