LeonardS
Expert Alumni

Get your taxes done using TurboTax

The U.S. tax system operates as a pay-as-you-go system. What this means is that you must pay your taxes as they occur.  For example, if your estimated tax payment for the fourth quarter is less than the amount required for the income earned plus your stock sale you will incur an underpayment penalty.  The previous quarterly payments do not impact your penalty in the fourth quarter.

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