Hi all,
turbotax says that I need to pay a penalty, based on the 1099-MISC and 1099-NEC forms I got on a research stipend for 2020.
Underpayment Penalties: You have a penalty of $x for underpayment of your estimated taxes. The balance due on your return includes this penalty.
Can someone help me clarify why I receive this penalty and if I can do anything about it?
Thank you!
Eridani
