Starting in 2025.... Single, No dependents, Renter, Unemployed.
I plan to sell shares of stock with long-term gain status to provide monthly income, until I find employment again.
It appears if my total income (via gains) is less than or equal to $48,350 I would not need to pay estimated taxes since my tax liability is zero(?). I also live in a state with no state income tax or gains tax. (I also have some marginal dividends from other accounts, and will take it into consideration).
Questions...
1. Do I need to pay estimated taxes in the above scenario?
2. Can I also consider the 2025 standard deduction of $15,000 will then allow gains up to $63,350 and pay no taxes?
Open to any other thoughts on this. Thank you.
References:
https://www.bankrate.com/investing/long-term-capital-gains-tax/#what-is-the-long-term-capital-gains-...
https://turbotax.intuit.com/tax-tips/small-business-taxes/estimated-taxes-how-to-determine-what-to-p...
