Ok thanks for the detailed reply….just to recap for me……
*I have a job that withholds taxes every check, gross around 500k….
*I just sold a rental house that will have about a 300k long term capital gain
The big question which I believe you answered is do I need to give the irs a big chunk of money right now or can I wait until I do my taxes for 2022 (after the new year)….I am aware of the brackets and the recapture but I assume turbo tax will walk me thru that when I do the 2022 taxes….but I don’t want to find out then that I should have paid some right after the sale
you listed those reasons to avoid a penalty, to be safe I can just make sure I pay 110% of last years taxes and then it will all be figured out when I do my normal turbo tax return for 2022 next year?
thanks!
