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Deductions & credits
1. Can I make a one time payment to avoid the underpayment.
Yes. But it's no guarantee that you won't avoid an underpayment penalty. It may only reduce it; sometimes quite a bit too.
2. If yes, what option should I choose on the IRS payment website.
For 2021 estimated taxes, the only choice you can make really, is for the 1040-ES 4th quarter payment. The 3rd quarter payment was due on Sept 15th, 2021.
3. How do I enter that information to turbotax once the payment is done
You'll deal with that under the Deductions & Credits tab in the Estimates & Other Taxes Paid section, when you get to that point in the program through the interview process.
‎December 3, 2021
7:28 AM