I just found out about quarterly taxes. I sold some stock back in January and February for about a profit of $7,000. However, I didn't take this money out of my WeBull account but rather reinvested it in stocks that are pretty much in the negative at the moment.
1) Do you only have to pay estimated taxes if you transfer the money out of the brokerage account and into your bank account?
2) My overall profit for the year is about $3,000. My AGI for tax year 2020 was about $38,500. Should I have reported estimated taxes?
3) Does TurboTax have software to help with this? If so, does it allow you to file quarterly taxes without charging you a fee each quarter?
4) If not TurboTax, what type of professional should I seek help from? What designation should that person have? Enrolled Agent? CPA?
Thank you.
