Estimated Taxes for retiree with expected home sale

[Jim_NC]

I am currently retired with income from investments only - no SS yet.  With no stock sales in 2023 and no capital gains for 23, my tax for 2023 is 0 - getting a rebate due to ACA credits.  In 24, we will be realizing a sizeable (500K after 500K exemption for qualifying home sale) capital gain.  Since I paid no tax in 23, I understand that I do not have to pay estimated taxes in 24 (same for prior year - no tax liability in 22).   If we close and receive proceeds in March of 24, am I ok waiting until April 24 to pay the tax on the gain without incurring a penalty or interest?  I read several previous posts that seemed to indicate this, but they were different in that they did have a requirement to pay estimated taxes based on prior income.  Thanks for the input.

[Bsch4477]

If you had no tax liability in 2023 you wouldn’t have to pay tax on your 2024 income until April, 2025. 

[Jim_NC]

Thanks - meant to say April 2025!  So no tax due until Tax Day and therefore no interest or penalty?

[Bsch4477]

Yes.