2594056
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cmartin1
New Member

Should we pay in quarterly this year to ease the burden when filing for 2022 as we sold our rental this year 01/19/2022 for $367,000?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Should we pay in quarterly this year to ease the burden when filing for 2022 as we sold our rental this year 01/19/2022 for $367,000?

If you had a significant increase in income it would be wise to make estimated payments to avoid a large tax liability and potential underpayment penalty. 

MinhT1
Expert Alumni

Should we pay in quarterly this year to ease the burden when filing for 2022 as we sold our rental this year 01/19/2022 for $367,000?

Yes, you should consider paying estimated taxes for your one-off capital gains.

 

This is to avoid the penalty for underpayment of estimated taxes at tax time.

 

Please read this TurboTax Help topic for more information.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question