Get your taxes done using TurboTax

Yes, based on this information, there is an opportunity to reduce/eliminate the penalty.  You can annualize the tax. Here is how to enter the information in TurboTax Online:

1. Navigate to Federal > Other Tax Situations > Additional Tax Payments > Underpayment Penalties > Start or Revisit
2. Continue through the questions until you arrive at the screen Annualized Income Method, answer Yes, and Continue on the next 2 screens
3.  Enter the what you earned in the first 3 periods on the screen Annualized Adjusted Gross Income, ensuring the amounts are cumulative for the year. 
4. Similar to step 3, on the screen Itemized Deductions on Schedule A enter the what your deductions were in the first 3 quarters, ensuring the amounts are cumulative for the year. 
5. Continue with the process for the following screens until you reach the Conclusion, which needs to be unchecked if you want to see the results.
6. Continue through the interview, answering the questions, until you reach Underpayment Penalty, which tells you what the underpayment computed using the annualized method is.

See also: Why am I getting an underpayment penalty if I'm getting a refund?