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Ninjadogger
February 12, 2025
Question

Underpayment Penalty

  • February 12, 2025
  • 1 reply
  • 0 views

On 1040 sr Line 38 I have a  $14.00 penalty listed. How do I pay this amount?

    1 reply

    D
    DavidD66
    February 12, 2025

    The amount on Line 38 of Form 1040 SR is included with the amount on Line 37, if you have a balance due.  If you overpaid  your tax, the amount you overpaid on line 35a will be the amount of your over payment on line 34 less your estimated tax penalty on line 38.    So, you will be paying the penalty by a reduction in refund, or by paying the amount on line 37.

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