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?

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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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