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Employee
March 27, 2019
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Short Term Capital Gains question

  • March 27, 2019
  • 1 reply
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I'd like to ask a question about ST capital gains, here is a hypothetical: suppose in the second quarter I have the unexpected opportunity to sell a stock at a gain, and say I make a $25,000 profit, so there is a ST capital gain. I didn't expect to make this sale, so I didn't set up estimated quarterly payments, so would the correct tax treatment be to file form 2210 and pay the tax on the gain? If not, what would be the correct thing to do? Thanks!

    Best answer by NCPERSON1
    Yes - pay an estimate of $25,000 times your tax bracket as that is what would be owed on your tax return in any event

    1 reply

    March 27, 2019
    use form 1040-ES

    Submit an estimated payment of $25000* your tax bracket by June 17, 2019
    John555Author
    Employee
    March 27, 2019

    Thank you for the reply, but please clarify- did you mean for me to pay taxes on the $25,000 for my tax bracket?

    NCPERSON1Answer
    March 27, 2019
    Yes - pay an estimate of $25,000 times your tax bracket as that is what would be owed on your tax return in any event