See Special Enrollment Exam Quiz
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SEE PART 2: BUSINESSES
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A single individual operates a farm and also owns a landscaping business. For 2025, his gross income from farming is $80,000 and his gross income from landscaping is $60,000; for 2024, his gross income from farming was also less than two-thirds of his total gross income. He made no estimated tax payments during 2025 and plans to file his 2025 return and pay the balance of tax due on March 1, 2026.
Which of the following correctly describes his eligibility to avoid the underpayment penalty?
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