I will be closing on sale of a home next week and have a significant amount of capital gains. The basic question is do I need to estimate taxes for a one time capital gain and prepay them during the year to avoid a penalty? Since it won’t be reported on a W-2 as income, is it treated the same way. Also I read that estimates are due by September 15 for the third quarter, but because of the closing date the money will not be available to me until after September 15. So when would I need to pay it if I do need to?
