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I filed by 2024 taxes (in early March) and subsequently sold my house (in late March). I will owe capital gains tax on the house sale. I assume I must pay the capital gains taxes prior to April 2025 as estimated taxes. Can I use Turbotax to calculate the estimated payments I must make before filing my 2025 taxes in April, 2025? If so, are there any instructions on how to use Turbotax to calculate these estimated taxes? Thanks for any replies.
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Yes, you can do this estimate in TurboTax.
Select the following:
No, you do not have until next April to make the payment. The IRS is a pay as you go system. So since you sold the house in early March, the taxes on the sale would be due April 15th, of THIS year.
Yes, you can do this estimate in TurboTax.
Select the following:
No, you do not have until next April to make the payment. The IRS is a pay as you go system. So since you sold the house in early March, the taxes on the sale would be due April 15th, of THIS year.
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