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Why didn't I have an underpayment penalty

I had a small refund last year, but large capital gains from selling rental restate this year. I did not make any quarterly estimated tax payments.  Why did Turbotax did NOT calculate an underpayment penalty for 2019?

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1 Reply
RobertG
Expert Alumni

Why didn't I have an underpayment penalty

There are exceptions to the penalty and situations where the penalty wouldn't apply, including: The total of your withholding and estimated quarterly tax payments was at least as much as your prior-year tax. 

 

Tax Withholding and Estimated Tax

 

 

 

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