LSTAX
Level 4
12-09-2020
07:12 PM
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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?
Solved! Go to Solution.
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