My parents just sold their 2nd vacation home in Asia 2 weeks ago. They live in NYC. They'll need some guidance in tax prep for 2024.
1. Estimated tax payment for capital gains - How to utilize TurboTax to make estimate quarterly payments?
2. Does it matter if the quarterly est payments differ in amounts, as they gather all the info over time to make more precise calculations?
3. Which forms need to be filled out along with estimated payments?
4. Since it's outside of NY, there is not tax implications for NYS or NYC, correct? TurboTax automatically copies over gains to state returns. What is the best way to make adjustments?
Also which turbotax product is best for this situation? Thanks!
