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penalty for failure to pay estimated taxes on inheritance I didn't know I had
Trying to file taxes, and TT says I need to pay penalties and interest for failure to file estimated taxes quarterly. Mother died in November, I was beneficiary of IRA from which she had not taken RMD, and inherited mineral rights which were then sold. Is there a form to negate the penalties and interest? I couldn't prepay estimated taxes on things I didn't know were going to happen....I understand the taxes, but surely I shouldn't be penalized for not filing estimated taxes.
March 23, 2019
2:43 PM