How can I calculate my penalty for not paying enough Federal tax quarterly in 2020? Why does my Turbotax federal return not seem to contain a section for Form 2210?

[tponkshe3]

I realized some gains from short and long-term capital assets sales. I didn't know that I need to estimate my tax on gains from my company stocks (RSUs and ESPP) sales. How do I know if I need to pay federal penalties for this and how do I calculate that on Turbotax?

[MaryK4]

See Estimated Tax Penalty Explained  for details on the estimated tax penalty.

IRS Form 2210 (Underpayment of Estimated Tax by Individuals, Estates, and Trusts) calculates the underpayment penalty if you didn't withhold or pay enough taxes during the tax year.

Form 2210-F is a variation if you made at least 2/3 of your gross income from farming or fishing.

We'll automatically generate a Form 2210 if your return needs it. Or you can revisit this section:

Note: You'll need your prior year tax return to answer the questions.

1. Sign in to TurboTax and open or continue your return.
2. Search for underpayment of taxes.
3. Select the Jump to link in the search results.
4. The Underpayment Penalties screen will display the penalty amount. Select Continue to review this section and make any needed adjustments.
   • Note: If you see No Underpayment Penalty, you either haven't entered your income and/or estimated tax payments yet, or you aren't subject to an underpayment penalty.

(Optional) Keep going, and when you get to the Annualized Income Method screen, answer Yes if you want to see if we can reduce the penalty.