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Investors & landlords
Thank you. To clarify: our AGI will be above 250K. Also, assuming this option:
"Timely estimated tax payments equal or exceed 100% of your 2023 tax"
What does this mean exactly?. instead of filling in 2025, I should file and send money to IRS every quarter, including in Q1 2024 after selling the funds? Or, simply increase our withholdings enough to cover 110% of the tax we paid in 2023 and that would allow us to avoid the underpayment penalty?
Also, we will certainly incur the net investment tax mentored because our AGI will be above 250K for both 2022 and likely for 2024. Any way to minimize or avoid that tax? Do I need to pay that one quarterly?
‎December 29, 2023
4:59 AM