Kat
Alumni
Alumni

Deductions & credits

How long have you owned this property?  Capital gains tax rates are different for short-term (one year or less) vs. long-term (greater than one year) gains.

 

As for making payment of your taxes due, you can go ahead and make payment now, or you can wait until fourth quarter estimated tax payments are due...January 15, 2021.

 

 

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***