I am completing my taxes and expected TurboTax to tell me I owe an underpayment penalty, but nothing is alerting me to this as I run through the program.
My withholding through work has never previously resulted in need to owe fed taxes. In March, 2020 though I sold several stocks and generated a $30,000 long term capital gain that I did not pay taxes on at the time. As a result, this year I owe over $5,000 in taxes for 2020. But, since my withholding during 2020 did not exceed 110% of my tax bill from 2019 (1040, line 16), shouldn't I be assessed a penalty? Thanks
