Do I have to pay taxes now on a property that I sold last week.

[user17704816437]

How much tax will I have to pay on a property I sold last week?

[Vanessa A]

You would not include them on your 2025 taxes, but if you made a profit on the sale, you will report this sale on your 2026 return and you should make an estimated payment by June 15th to cover the 

As to how much you will have to pay, depends on how long you held the property, your other income, your tax bracket and your profit.  

You can use the IRS Tax Withholding Estimator to help you determine how much you should pay. 

[Opus 17 · Accepted solution]

You will be taxed on the gain -- that is, the difference between your cost basis and the selling price.  Cost basis is what you paid, plus adjustments for improvements you have made since the purchase, minus adjustments for depreciation if the property was used in business.

Gains for property held more than 1 year are taxed at 15% or 20%, depending on your other income, except that any gain due to recapture of depreciation is taxed as ordinary income with a cap of 25%.

Once you estimate the tax owed, and assuming the property was sold after April 1, 2026, you have two options.

1. Make a full estimated payment by June 15 at www.irs.gov/payments.

2. Make a 2/4ths estimated payment by June 15, 1/4 by September 15, and the last 1/4 by January 15, 2027.  But don't spend the money in the mean time and have nothing to pay with.

Your actual taxes will be calculated on your 2026 tax return that you will prepare in 2027.  If your actual tax is less than your estimates, the difference will come back as a refund.  If your actual tax is more than your estimated payments, you will have to make up the extra when you file.  If you owe more than $1000 extra when you file your return, you may also be assessed a penalty for underpaying your estimated payments.