HI,
Great job BN34 for thinking of this before your tax filing is due!
Whether you get penalized or not will depend on whether you paid in enough taxes in a timely manner. The IRS doesn't care if the money comes in from W-2 withholding or estimated taxes, just as long as they get the amount they want in the timeline they want it!
The IRS knows that this is hard to figure out, so they give you a "Safe Harbor" to avoid underpayment penalties. This article does a great job of explaining your responsibilities and what the Safe Harbor to avoid penalties is.
As to how much tax you may owe, TurboTax has an estimator to help you figure that out. You can find that here.
You mentioned MN, but you didn't refer to paying in additional taxes there. Here is a link to MN's DOR page that addresses estimated taxes. You may want to think about those, as well, if you haven't already.
Hope this helps! Please cheer if it does!
Best,
Karen
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
