Does the final number calculated by TurboTax already include the tax underpayment penalty? I forgot to do quarterly tax for the first half of the year-end up owing $4k.

I received a fellowship for the first half of the year which did not withhold any federal and state taxes.

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Look at line 38 of your 1040.

Line 38 is empty. I don’t think the underpayment penalty was calculated. Would this be a problem? Any suggestions on how should I proceed? Thanks!

After you file you might receive a letter from the IRS assessing a penalty. For whatever reason many taxpayers never receive such a letter.

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