2022 taxes

Hi @Louis2810 - thanks for your question today!

You can file for an extension in TurboTax Online. This functionality typically becomes available sometime in March.  This will enable you to e-file your extension. If you won't be available at that time, you could also print out a paper Form 4868 and mail this to the IRS before you leave for your trip. I would recommend sending it certified mail, return receipt requested, so you have proof of timely filing and delivery. 

If you have a significant capital gain, I would recommend making an estimated tax payment prior to January 15, 2023. Waiting to pay the balance due with your return could subject you to a possible underpayment penalty. The capital gains tax rate will be either 0%, 15% or 20% depending on the total amount of your income (including the capital gain). 

Since the home was located in North Carolina, you may also have North Carolina taxable income due to the capital gain.  I would also recommend making a North Carolina estimated payment, which you can do at this webpage.  North Carolina does not have a separate tax rate for capital gains; they are taxed like all other income at 5.25%. You will need to file a North Carolina nonresident tax return for this year to report the sale.

If you apply for a Federal extension, North Carolina automatically also grants you an extension so you do not have to file for that extension separately.

I hope this information is helpful.