When do I pay the capital gains tax on a vacant land sale? I will be in the 12% tax bracket for capital gains tax in 2018. Do I have to make an estimated payment?
My calculations of what I owe for capital gains (federal/state) is $2,000. I usually get a federal refund of about $2,300.
01272
1 Replies
Critter
Level 15
Jun 1, 2019 12:23:32 PM
You can make an estimated payment now if you believe you will owe $1000 or more on the return when you file it ... otherwise the situation will balance off on the return. Sounds like you will balance off nicely.