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I wasn't required to pay estimated quarterly payments based for 2018 taxes. Can I begin my quarterly estimated payments in June to avoid a penalty?

I had a sizable unexpected stock sale capital gain in April 2019.  My tax bill for 2019 did not require me to make est quarterly payments.  Can I begin making quarterly payments in the remaining 3 quarters of the years to avoid a penalty on next year's tax bill? 

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JulieCo
New Member

I wasn't required to pay estimated quarterly payments based for 2018 taxes. Can I begin my quarterly estimated payments in June to avoid a penalty?

Yes, if the activity didn't occur until this month (April 2019), then you can being with the 2nd quarter payment in June. 

If you want to utilize TurboTax to help you create the 2019 forms, see this answer from TurboTax Anthony below for how to access the estimated tax section of TurboTax after you have already filed your return:

https://ttlc.intuit.com/replies/7220715


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1 Reply
JulieCo
New Member

I wasn't required to pay estimated quarterly payments based for 2018 taxes. Can I begin my quarterly estimated payments in June to avoid a penalty?

Yes, if the activity didn't occur until this month (April 2019), then you can being with the 2nd quarter payment in June. 

If you want to utilize TurboTax to help you create the 2019 forms, see this answer from TurboTax Anthony below for how to access the estimated tax section of TurboTax after you have already filed your return:

https://ttlc.intuit.com/replies/7220715


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