I sold a stock in January for a profit of $132k that I held for more than a year. How do I calculate how much taxes to prepay so I do not get hit with an underpayment penalty? (something I found out the hard way last year). I also have to prepay the FTB because I am in California. I am trying to figure out if I should use some of the profits to live off while maxing out my 401k and my wife's 403b to lower my tax liability. She is on track to make 90k and I will make about 95k. Also which edition is best suited for my situation? Is there an overpayment penalty? Thank you!
