I had no tax liability in 2018. Due to a stock sale in the 4th quarter 2019 I owe $14,000 taxes for 2019.
1) Can I avoid penalty if I file my return by January 31, 2020?
or, less desirable
2) Can I avoid penalty if I pay 100% of the tax with my 4th quarter estimate on January 15, 2020?
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If you truly had no tax liability in 2018 you are exempt from any underpayment penalty for 2019.
Thanks-When I tried to follow the line by line instructions for the Form 2210, this was not entirely clear. Thanks for the help
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