Carl
Level 15

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.