I live in California, and just sold a rental house we owned in Seattle. No tax was withheld. The house was sold for about 800K, and we owned it for 15 years. I'm retired, my wife works, but our combined, normally a little more than 100K, will be under that without the rental income.
So, I'm wondering about estimated tax payments for 2022 tax year. Of course, I'm also worried about the amount of taxes, but I don't want to do an exchange - I'm tired of it.
I've read a bit about the requirements for estimated taxes, but it's not clear to me how to apply what I read. Usually, my taxes are fairly simple, but this next year may be a bit more complex, and I'm not sure if I need to hire an accountant or advisor or not. So if anyone has a fairly simple answer or guidance, I'll be grateful.
