@mdktech24 wrote:
As a follow up: how to I "run both the federal and state penalty calculations using the annualized income method"? Would TurboTax be able to perform these calculations automatically?
If you had federal withholding, that cover the IRS because withholding is also assumed to be spread out over the whole year, so the withholding matches the income. For the state, if you are not offered a penalty calculation automatically, it should either be in the list of state-specific additional taxes and credits, or under "other tax situations."
