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April 18, 2020
Question

Most of my jobs took out taxes, but from end of Aug onward, I received a stipend that did not take out taxes. Can I annualize my income to prevent underpayment penalties?

  • April 18, 2020
  • 1 reply
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1 reply

Employee
April 18, 2020

No.  You just have to enter the income you received in 2019 and let the calculations be whatever they are.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
fanfare
Employee
April 19, 2020

there are several options for how to calculate the penalty.

You should explore them in TurboTax.

You can file with the most favorable outcome.