In 2021 I made short term capital gain income trading stocks as a hobby, "for fun". I ended up owing about $22,000, now I am being told I need to pay quarterly taxes in 2022 because of the capital gains income I made in 2021. I don't plan on trading any stocks in 2022; all my income in 2022 will be from my primary job which is a W-2. Do I have to pay the estimated quarterly taxes in 2022 even though I will not be receiving any capital gains income in 2022?
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No, you do not have to pay 2022 estimated taxes. The forms 1040-ES are for your use only and can be discarded if you are not going to use them.
That's a relief, thank you!
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