Quarterly Income Tax Payments Question

by Tim
(LA)

Quarterly Income Tax Payments

Quarterly Income Tax Payments

I sold a stock in the first quarter of this year and established a long term capital gain.

I have to make a quarterly tax payment on the gain in the first quarter of this year to avoid a penalty when filing my annual taxes.

Can I sell another stock during the first quarter of this year 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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