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Posted On: 07/02/2020 2:40:59 PM
Post# of 148899
Quick PSA for all long-term longs with sub $1 basis who may have recovered some basis here in the last two quarters. Depending on your personal tax situation, you may owe estimated taxes to the IRS and your state.
Federal estimated taxes for Q1 and Q2 are due July 15th (extended due to COVID), as the deadline was extended due to COVID. Typically, I think they're due by quarter end.
Disclaimer : far from an expert on this stuff. But I owe enough tax on the 18,500 shares I've sold since March, especially relative to what I have owed in past years, that i am making estimated payments out of an abundance of caution to avoid any underpayment penalties.
Light reading for reference.
https://www.irs.gov/faqs/estimated-tax/large-...utions-etc
Federal estimated taxes for Q1 and Q2 are due July 15th (extended due to COVID), as the deadline was extended due to COVID. Typically, I think they're due by quarter end.
Disclaimer : far from an expert on this stuff. But I owe enough tax on the 18,500 shares I've sold since March, especially relative to what I have owed in past years, that i am making estimated payments out of an abundance of caution to avoid any underpayment penalties.
Light reading for reference.
https://www.irs.gov/faqs/estimated-tax/large-...utions-etc
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