We are retired. We sold some stock. Do we need to pay capital gain tax on it now to avoid penalties?

[loriagehring]

We sold a small amount of stock.  Do we need to pay the capital gain tax now?

[Critter-3]

Maybe ... look at last year's return ... 

Do I need to make estimated tax payments to the IRS?

https://ttlc.intuit.com/replies/3301891

[Mike9241]

not enough information.  for some taxpayers, a small amount of capital gains could be taxed at 0% for federal purposes.    

2 safe harbors so no matter what your 2021 tax is there are no penalties for owing a substantial amount on 4/15/2022 

1) Withholding and timely estimated tax payments = 90% or more of your current year tax or
2) Withholding and timely estimated tax payment = 100% or more of your prior year's tax. The 100% increases to 110% if your prior year adjusted gross income is more than $150,000

[Hal_Al]

Try this tool https://turbotax.intuit.com/tax-tools/calculators/taxcaster/?s=1. Enter your regular income first to see the regular tax. Then add the sale to see the effect.
Enter the difference between the sale price and what you paid for it originally as a long term capital gain (LTCG).  Depending on how much total income you have LTCG are partially taxed at 0%, 15%, 20% and/or 23.8%.

[loriagehring]

Thank you very much!  Very helpful!