Is it possible to waive the underpayment penalty due to Roth conversion?

[SL12345]

I converted some money from a pre-tax account to Roth in Q4 which resulted in an underpayment penalty. I checked all exceptions and I am not qualified for either of them.

I see I can annualize my income in Turbotax, but my finance numbers are kind of hairy to sort out to find the monthly earnings and then do the math.

What is my chance to just request a waiver if I explain my situation in the explanation part and attach the transfer evidence that can approve this transaction was happening in Q4?

or it's better to just not pay and wait till the IRS bills me? Will that cause more interest?

Thanks!

[fanfare]

you can request a waiver with form 2210.

TurboTax should give you a spot for an explanation statement.

[Mike9241]

it's up to the IRS to determine if this is a reasonable cause. File now, because if the IRS denies it, you may be able to pay it before  4/15/2024 and thus avoid interest on late payment.