NateTheGrEAt
Expert Alumni

Get your taxes done using TurboTax

Correct, you'd want to get as close as you can to the tax liability so that the balance due on your return is less than $1000. Keep in mind that your other income and withholding figures into it also, so (for example) if you had enough withholding to get a $5,000 refund, absent the real estate sale - and your calculation of the capital gains tax is correct - you'd need to pay in $95,000 to come out at breakeven.

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