TurboTax does not assess penalties; the IRS and state tax authorities assess penalties. Are you referring to an underpayment penalty on your balance due?
According to the IRS:
Generally, most taxpayers will avoid this penalty if they either owe less than $1,000 in tax after subtracting their withholding and refundable credits, or if they paid withholding and estimated tax of at least 90% of the tax for the current year or 100% of the tax shown on the return for the prior year, whichever is smaller.
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