Hi,
Based on the withholding from my W2 for 2024, I don't owe any tax on my return. But, when I entered the interests I earned from my bank's 1099-INT (from CD), I end up owing over $1,200 taxes.
Does this mean it will trigger underpayment penalty for 2024 taxes?
If yes, what do I need to do for 2024 return?
If yes, what do I need to do for 2025 to avoid this happens again?
