@nomadicmike wrote:
Do I need to pay estimated taxes on the proceeds?
You actually only have to worry about a penalty for underpayment.
However, you can avoid the penalty if you owe less than $1,000 in tax for 2019, or if you pay at least 90% of the tax owed for 2019 or 100% of the tax shown on your return for 2018, whichever is smaller.
See https://www.irs.gov/businesses/small-businesses-self-employed/estimated-taxes
