LP1968
Level 3

Quarterly Estimated Tax Payments for Capital Gains

Hi. I'd like to clarify an important detail about the exact amount to pay for Quarterly Estimated Tax Payments for Capital Gains. 

 

Lets say I have $40,000 of long-term capital gains in Q1 2021, and my federal tax due is exactly $6,000 (i.e. 15% of  $40,000). 

 

do i need to pay IRS all $6,000 by April 15th? or can i pay only $1,500 by April 15th, and then $1,500 in each of the 3 remaining Quarterly Estimated Tax Payment dates?  

 

 

Also, lets also say I am a CA resident. so, there is another $4,0000 (i.e. 10%) in CA-state tax.  do i need to pay CA FTB all $4,000 by April 15th or i can pay only $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!