Who Must Pay the
Underpayment Penalty
In general, you may owe the penalty for 2022 if the total of your withholding and timely estimated tax payments didn't equal at least the smaller of:
1. 90% of your 2022 tax, or
2. 100% of your 2021 tax. Your 2021 tax return must cover a 12-month period. so you can't use exception 2.
the other exception is if line 7 on the 2210 is less than $1,000
Turbotax should be able to figure the penalty automatically if you owe . the actual form may not be required.
