Why does TurboTax Deluxe list a tax penalty in forms when there should not be one? How do I trace it back to what caused it?

[frannyandfitz]

My return is so simple: only 3 1099-R entries, one interest entry, using standard deduction.

[SharonD007 · Accepted solution]

You may have an underpayment penalty. The tax system is a pay as you go system. If you don't have enough withholding from your income, you can get hit with an underpayment penalty .  Review the IRS topic 306, Penalty for underpayment of estimated tax for additional information.

Also, review the TurboTax Help article Why am I getting an underpayment penalty?