How is line 77 estimated tax penalty calculated? And why don't I have a form 2210 if there is a tax penalty on line 77?

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    If you do not pay enough tax, you may have to pay a penalty for underpayment of estimated tax. Even if you are getting a refund you can still owe a penalty for not paying in evenly during the year.  Generally, most taxpayers will avoid this penalty if they owe less than $1,000 in tax after subtracting their withholdings and credits, or if they paid at least 90% of the tax for the current year, or 100% of the tax shown on the return for the prior year, whichever is smaller. It is included in your tax due or reduces your refund. It is on 1040 line 77 or 1040A line 46.

    IRS info on Underpayment Penalties…..http://www.irs.gov/taxtopics/tc306.html#skiptocontent 

    You might be able to eliminate it or at least reduce it.  You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select Start by the Underpayment Penalties. You will answer a series of questions that may reduce or eliminate the penalty. Or you can elect to have the IRS figure the penalty for you.  It's form 2210.

    It's under
    Federal Taxes or Personal (for H&B version)
    Other Tax Situations
    Additional Tax Payments
    Underpayment Penalties - Click the Start or update button

    If you have the desktop program you can switch to Forms Mode (click forms in the upper right (left for Mac)) and open the 2210 form.

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