DawnC
Expert Alumni

Get your taxes done using TurboTax

You may not owe a penalty, but Form 2210 (the form that calculates the penalty) will not be ready to e-file until 02/24, see availability chart.    Since the form is not ready, it is likely that it is not pulling the correct date information of your estimated payments yet.   The timing of the payments as compared to your income is what drives the penalty; once the form is finalized, you can confirm your true penalty situation, if any.   Once the form is finalized, TurboTax will take into account the dates of your payments and the penalty will most likely go away.

 

Why am I getting an underpayment penalty if I'm getting a refund?   You can still incur a penalty even if you get a refund because it is the timing of your payments and income by quarter.   See that link for examples.      @barbaraz

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