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Get your taxes done using TurboTax
If you have a 2022 desktop version of TurboTax, you can do a what/if scenario to get an idea.
Note that you will have 10 years of depreciation recapture (Section 1250 gain) which is taxed at your ordinary income tax rate up to a maximum of 25%.
Also, if you pay 100% of the tax shown on your 2022 tax return (110% if your AGI for 2022 was more than $150,000 or $75,000 if your filing status for 2023 is married filing a separate return), then you will not incur a penalty for underpayment of estimated tax.
See https://www.irs.gov/publications/p505#en_US_2023_publink1000194564
‎October 21, 2023
7:53 AM