You'll need to sign in or create an account to connect with an expert.
If you realized a capital gain on the sale of your real estate, you would be wise to make estimated tax payments. I recommend you pay 100% of the capital gain with the first quarter payment so that the payment is for the same quarter that the gain occurred. The first quarter due date is due April 15. The remaining estimated tax due dates are June 15, September 15, and January 18.
Thanks, David, for the reply. Here's a quick follow up question, if I may: why not spread the estimated payments throughout the year?
Yes - You can do that. DavidD66's thinking was to make a larger payment in the quarter you receive the income. But you certainly can spread the estimated payments throughout the year. It will all get reconciled on your 2021 return.
Thank you, Irene!
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
taxquestion222
Returning Member
jamieanddeb
New Member
refund2
New Member
356mrad
New Member
ph00756-
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.