I had a large long term capital gain in 2024 from the sale of stock. This capital gain will not occur in 2025 but has resulted in a 3 fold increase in my quarterly est. tax payments for 2025. Is there a way to decrease the amount of my estimated tax payments?
They are optional to pay. The 1040ES quarterly estimated tax payments DO NOT get sent to the IRS or state with your return. So they won't be expecting them. Turbo Tax is very conservative and doesn't want you to owe too much next year. They might have printed out if you got a one time large income this year. Like if you took a IRA or 401K distribution or had a large capital gain. They are just a suggestion. You can ignore them. You might want to adjust your withholding at work so you won't owe too much next year.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
