Underpayment penalty and Form 1040-ES

[KatFen5]

I'm having problems with this section and estimated tax payments.  My situation is this: Husband died in August of 2021.  I was not working, I was taking care of my mother.  I did not qualify until Feb of 2022 for SS survivor benefits.  I checked to see if I would owe taxes on my survivor benefits with the expense of Cobra Ins. and it said I wouldn't owe taxes in 2022.  Meanwhile I had transferred husbands 401k into an IRA with a financial advisor who put it into low risk and said I would only lose 5% if market turned downward.  Meanwhile in May and June of 2022 it was going down fast, had already lost 16%, I was scared and pulled it out with intention of putting back in 60 days once it went down further.  Meanwhile I ended up in emergency room because of the stress and didn't put back in.  In Turbo tax it is generating a 2023 Form 1040-ES payment voucher of $4380 quarterly that I have to pay out of my next years SS Survivor Benefits income that is only going to be $6900 a quarter.  It's treating the full IRA withdraw like it was a continuing income for next year, which it isn't.  How do I rectify this.  I'm not sending IRS 2/3 of my income for next year and I don't feel like I should have to pay a penalty.  Can anyone tell me how to answer questions in that section so it doesn't generate the 1040-ES form and I can get penalty waived as well?

[SantinoD · Accepted solution]

These vouchers are only suggestions and not required for you to pay. The program bases these estimated tax payments on the current year income, so since you had that unexpected income, the program assumes you will continue to have it next year. You can disregard that amount. 

Here is some more info: Why did 1040-ES estimated tax vouchers print out? Do I need them?

[KatFen5]

THANK YOU SO MUCH SANTINOD!  Thank you also for not making me feel stupid in asking this question and the quick response.  You have really taken a heavy burden from me, because I read all kinds of things on this, but couldn't make heads or tails out of it before out of desperation posted the question.