Hi and thanks -
Well, it's because I messed up. I did quarterly payments because I started collecting social security (at full retirement age of 66 and 6 months) starting in January 2024, and on top of that, all my CDs at around 5% are taxable (I know, I know, I'm an idiot for not doing better tax planning) so even though I've been paying in a ton this fourth quarter to zero out what I would owe, I didn't do quarterly withholding for my NY/NYC taxes, and under-withheld for the federal taxes (though I withheld what Turbotax recommended for my fed taxes). So this has been a rough month catching up tax-wise. Thanks to the Feds getting rid of the SALT deduction, I'm slammed even more. I'm not sure how to annuatize - frankly, I'm not even sure what I earned each quarter, but oddly, based on my preliminary entries into my Turbotax for my 1040, no penalty amount showed up, but there was over 600 dollar penalty for NY State/NYC.
