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J
JC309040
February 17, 2025
Question

Must I pay quarterly estimate the year after one time capital gain

  • February 17, 2025
  • 1 reply
  • 0 views
No text available

    1 reply

    AmyC
    AmyC
    Employee
    February 17, 2025

    No. You should just make sure that you pay the IRS whenever you make money. The IRS expects payment the same quarter you earn it. You can make a payment anytime you have a windfall at Payments.

     

    You must not have made a payment when you should have so now you owe money and the program is trying to help out. As long as you owe less than $1,000 at tax time, the IRS is happy. If you owe more than  $5,000 it is considered a substantial underpayment with penalties and interest and you do not want to continue that trend. 

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