- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Payment of estimated taxes is optional. This IRS reference explains the situations when a penalty for underpayment might apply: https://www.irs.gov/taxtopics/tc306
Remember that if the second home wasn't located in your home state, you might have to file a non-resident tax return in the state where it was located.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
‎June 3, 2019
11:56 AM