I didnt live in it, and am not buying another property with the proceeds. It will be a one-time lump sum from the sale and I will get it in September, so I THINK the estimated tax payment is due by Jan 15. I was hoping it would be treated diff since it was a one-time event, but see now it isnt. The next challenge…figuring out how much is considered a gain. For example, the state will require a payment (withheld at time of sale) of 7.25% of the gain. Do I reduce my gain on the fed taxes by the amount I pay to hawaii? Sooooo confusing!
