Advance tax paymnet for long term capital gain

Forum|Forum|5 years ago
December 23, 2020
5 replies
31 views

Hi,

One of my client wants to pay Advance Tax payment for a long term capital gain of around 200K. How can he do that??Please Advise

ProSeries Professional

This topic has been closed for replies.

Best answer by itonewbie

Make a 4th quarter ES-tax payment, preferably, electronically. But what's the hurry if your client already has F.2210 penalty covered and will settle the balance due by Tax Day? Most would rather keep their money (and get better return) than sending it to Uncle Sam.

dkh

Level 15

My understanding of your question is your client needs to make an estimated tax payment for the 2020 tax return tax liability. Use IRS Direct Pay. https://directpay.irs.gov/directpay/payment?execution=e1s1

G

gk77_2Author

Level 6

Thank u

itonewbie

Level 15

NP, @gk77_2!

---------------------------------------------------------------------------------Still an AllStar

itonewbieAnswer

Level 15

Make a 4th quarter ES-tax payment, preferably, electronically. But what's the hurry if your client already has F.2210 penalty covered and will settle the balance due by Tax Day? Most would rather keep their money (and get better return) than sending it to Uncle Sam.

---------------------------------------------------------------------------------Still an AllStar

G

gk77_2Author

Level 6

Thank u...

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