Estimated Quarterly Taxes - Realized Capital Gains on stocks and/or options

[Nick1234567]

Can the Intuit Turbotax software be used to determine the estimated quarterly taxes due on any realized capital gains from stocks and options by importing the data from the broker into the Intuit Turbotax software or is this not recommended? Should a tax professional be hired instead of using the Intuit Turbotax software to determine the estimated quarterly taxes due on any realized capital gains from stocks and options?

[dev145]

No, you cannot use TurboTax software to import realized gain/loss from investment income to calculate estimated taxes. But you can use our tax calculator to estimate your total tax liability. It is for 2023 but you can use it for estimate. Make sure to enter your long or short term gains  so far and all other income and estimated withholding for the year.  Once you have estimated balance due, you can use that to make estimated payments.  

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

Also if your gains are long term, depending on your total income, tax rate will be 0%, 15% or 20%. Short term gain will be taxed at your regular tax rate.