topic Should I make an estimated quarterly payment (Q4 2022) to cover capital gains tax if I sold a rental property in Sept. 2022? It is a significant capital gains burden. in Get your taxes done using TurboTax

Should I make an estimated quarterly payment (Q4 2022) to cover capital gains tax if I sold a rental property in Sept. 2022? It is a significant capital gains burden.

jpcappa — Tue, 10 Mar 2026 06:29:12 GMT

property held as rental 5 years, and the sale increases income by more than 100k, estimated cap gains of 50k

Re: Should I make an estimated quarterly payment (Q4 2022) to cover capital gains tax if I sold a rental property in Sept. 2022? It is a significant capital gains burden.

ee-ea — Fri, 14 Oct 2022 15:59:09 GMT

See this info

https://turbotax.intuit.com/tax-tips/small-business-taxes/estimated-taxes-how-to-determine-what-to-pay-and-when/L3OPIbJNw

Re: Should I make an estimated quarterly payment (Q4 2022) to cover capital gains tax if I sold a rental property in Sept. 2022? It is a significant capital gains burden.

davidbturner — Fri, 14 Oct 2022 16:00:43 GMT

If you are not reinvesting the proceeds in a Qualified opportunity zone property than you should make estimated tax payment. If you have an IRA on which you are drawing, you can boost the amount of tax taken out to cover the tax. Also you should know that any depreciation you took on the property is recaptured as ordinary income in addition to the capital gain.. If you want to avoid all the tax, you have 6 months to invest in the qualified opportunity zone property. One of the many on line entities that deal in this is Kay Properties, which seem to be reputable, but I have not invested in or do I represent them.