Just sold my single family rental; couple of questions
1. The long term capital gain bracket is determined by my job income combined with the taxable profit from the sale correct? So if I made $500k from my job and $200k on the sale I would be up in the 20% bracket?
2. Do I need to pay the tax for the sale like right now using the estimated tax portal or can I just wait until I do my 2022 taxes in the new year? I have a normal job which withholds taxes so I have never had to do the estimated taxes before…I don’t want to have a penalty if I wait
thanks!
