I failed to make a quarterly estimated payment in January 2017 for consulting fees received and reported on a 1099-MISC in Q4 2016. My 1040 prepared by TurboTax for 2016 says on line 79 that I am making paying a penalty for estimated taxes. My question is does this payment listed on line 79 settle the issue with the IRS and bring me up to date for estimated payments? Or do I need to file a new 1040-ES to make an underpayment penalty for failure to submit a quarterly estimated payment in Q4 2016?
