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Taxes on the sale of rental property, do I file one 1040-ES for the quarter I received the proceeds of the sale?
Form 1040-ES appears to expect the same amount of estimated taxes to be paid each quarter. With the sale of rental property, the proceeds come in on one date. I didn't even know that I was going to sell the property when the first estimated tax payment was due. Logically, I should pay the estimated tax in the quarter I received the proceeds from the sale. Is that what IRS expects?
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‎June 7, 2019
3:20 PM