Do I need to pay estimated taxes on long term capital gains income? I sold real estate in Jan 2019. Will I pay a penalty if I don't make est. payments in 2019?
Do I need to pay estimated taxes on long term capital gains income? I sold real estate in Jan 2019. Will I pay a penalty if I don't make est. payments in 2019?
Yes, you should make an estimated payment on the tax of whatever profit you make on the sale. If you choose to make four payments, make a larger one up front, rather than at the end. If you underpay your 2019 tax liability, you will pay a penalty.
Do I need to pay estimated taxes on long term capital gains income? I sold real estate in Jan 2019. Will I pay a penalty if I don't make est. payments in 2019?
Yes, you should make an estimated payment on the tax of whatever profit you make on the sale. If you choose to make four payments, make a larger one up front, rather than at the end. If you underpay your 2019 tax liability, you will pay a penalty.
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