I purchased a house in June to rehab and will complete the sell of it in late November early December. The house was an investment purchase and will be short term capital gains. My concern is that I have not paid any estimated taxes on the capital gains at quarterly payments because I did not expect to do a rehab this year. I do not want to do a 1031 exchange and do not want to be penalized for not making estimated tax payments. Are there any suggestions?
