LSTAX
Level 4

If you have a long term capital gain from selling stock in 2020 that will cause you to owe a large amount of tax in April, can you avoid penalty and interest for both IRS and CA as long as you have paid at least  100% (or 110%) of your 2019 total tax no matter how large the gain is?

Is there any reason to pay the extra tax in 2020 rather than waiting until 2021?

0 Cheers