For example, I have W2 (salary $120k, and tax is already approximately held by W4). I also have $6k carry over capital loss from 2019.
If I make $30k short term capital gain in July 2020, then how to calculate estimated tax payment for 3rd quarter? Just an estimated amount to avoid penalty.
If I make another $30k short term capital in November 2020, then how to calculate estimated tax payment for 4th quarter? Just an estimated amount to avoid penalty.
Filing status: Single
Thanks.
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You have two options:
You will need to use the program or the IRS to determine your correct payments or withholding, that is out of scope for us.
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