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If I make a lump estimated tax payment in the 4th quarter, enough to make me hit 110% of my 2017 taxes, can I avoid an underpayment penalty?
I sold a lot of stock to buy a home, and from what I understand you are supposed to make timely payments (i.e. in the quarter you had the gains) to avoid a penalty. However, I am wondering if the safe harbor of paying 110% of my 2017 taxes will let me defer paying until years end so I can set that money aside to earn some interest in the meantime.
‎June 1, 2019
12:19 PM