Hi. I'd like to clarify an important detail about the exact amount to pay for Quarterly Estimated Tax Payments for Capital Gains.
Lets use the example above where someone has $40,000 in (all say long-term) capital gains in Q1 2021, and the federal tax due is exactly $6,000 (i.e. 15% of $40,000).
is it need to pay IRS all $6,000 by April 15th? or can pay only $1,500 by April 15th, and the remaining in 3 equal amounts in each of the next 3 Quarterly Estimated Tax Payment dates?
Also, lets also say this person is a CA resident. so, there is another $4,0000 (i.e. 10%) in CA-state tax. is it need to pay CA FTB all $4,000 by April 15th or pay $1,200 (30%) now and the rest according to remaining Quarterly Estimated Tax Payment requirements stated in https://www.ftb.ca.gov/pay/estimated-tax-payments.html
Please advise! Thanks!
