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Get your taxes done using TurboTax
Thanks!
So for Question 1, the extra money I would send in would not be anywhere near a quarter because I am already taking extra withholding to account for his earnings. But I would estimate how much extra I should pay, taking into account the withholding that I've already paid. Is that fine?
For Question 2, now I have questions about how much money I should send for the sell of the foreign property. I do know anything about this; we have never sold a property in the US or abroad before! I know we had the property appraised before selling. Is the taxable amount the different between the appraised value and the amount we earned on selling it? Also, we had to pay an incredible 20% sellers tax to the foreign country. I don't believe the US will tax us for that, right? How should I take that into account when I estimate how much to send in for Quarterly Estimated Tax?