Quarterly Tax Payments

by Tim
(LA)

I sold a stock in the first quarter of 2011 and established a long term capital gain. I have to make a quarterly tax payment on the gain in the first quarter of 2011 to avoid a penalty when filing my 2011 taxes. Can I sell another stock during the first quarter of 2011 and incur a long term capital loss to offset the gain or must I pay the estimated tax?

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Quarterly Tax Payments

by Tim
(LA)

I sold a stock in the first quarter of 2011 and established a long term capital gain. I have to make a quarterly tax payment on the gain in the first quarter of 2011 to avoid a penalty when filing my 2011 taxes. Can I sell another stock during the first quarter of 2011 and incur a long term capital loss to offset the gain or must I pay the estimated tax?

Click here to read or post comments.

Join in and write your own page! It's easy to do. How?
Simply click here to return to Income Tax Questions.




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