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Investors & landlords
You are probably also incurring an estimated tax penalty for not having paid enough during the year, through withholding or estimated tax payments, to cover the tax on the capital gain. See if there is a penalty on Form 1040 line 38 that appears or increases when you enter the gain. The penalty gets added to the amount that you owe. That would account for part of the $12,137.
‎February 28, 2022
5:54 AM
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