Can I annualize my income to explain underpayment of taxes?

[LenaH]

Yes, you can use the annualization method to have your tax liability calculated on your actual income for specific periods.

In TurboTax Online, please follow the instructions below:

1. Open your return.
2. Click on Federal on the left hand side.
3. Click on Other Tax Situations.
4. Click on Additional Tax Payments.
5. Click Start next to Underpayment Penalties.
6. Answer the information on the following screens.
7. On the screen, Annualized Income Method, click Yes.
8. Enter the relevant information on the following screens.