If we just sold a vacation home and will be paying capital gains for 2017, do we need to pay now? Will we be penalized for waiting till tax time next year?

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If you sold the vacation home in 2016, then any capital gains would be included in the 2016 tax year. If you just sold you vacation home this year (2017), then they are reported next year for 2017 tax return.

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Filed taxes Saturday. Owe 4100. The irs website has not processed yet so says owe 0. Can wait past 4-15 to set up pmt plan without being penalized until shows balance due

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If we just sold a vacation home and will be paying capital gains for 2017, do we need to pay now? Will we be penalized for waiting till tax time next year?

If we just sold a vacation home and will be paying capital gains for 2017, do we need to pay now? Will we be penalized for waiting till tax time next year?

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