I am scheduled to close on the sale of an investment property in late May. Do I make the estimated tax payment at the time of the sale or wait until June 15th? Also, do I make the full estimated tax payment or divide into 3 equal payments (June, September, January)?
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You should pay the full estimated amount by June 15. You can pay it earlier if you want to.
under the default method for computing underpayment penalties it is assumed 1/4 of your 2024 taxes were due each period. You will be subject to penalties for the first quarter unless you use the Annualized installment Income Method on page 3 of the 2210
ways to avoid penalty and/or no need to use the AIIM
if Federal withholding and
this means that withholdings and estimated tax payments for the 1st quarter - 1/1-3/31 for option 1 must be 22.5% of your 2024 tax or $25% (27.5% if agi >$150K) of your 2023 tax
state laws differ
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