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Message
Do you guys really pay taxes quarterly on realized gains?
Posted on 3/27/26 at 7:43 pm
Posted on 3/27/26 at 7:43 pm
I ain't never made no money on stonks until this year.
Then I'm realizing I have to cut my wad down by sending part of it to the IRS each quarter.
First all. How do they know when the gain is realized? Can I just pay it at end of year? What kind of penalty am I looking at?
Then I'm realizing I have to cut my wad down by sending part of it to the IRS each quarter.
First all. How do they know when the gain is realized? Can I just pay it at end of year? What kind of penalty am I looking at?
This post was edited on 3/27/26 at 7:52 pm
4
Posted on 3/27/26 at 7:52 pm to DiamondDog
If you pay 110% of your prior year taxes paid and used to estimate the current year, you avoid penalties for underpaying.
Posted on 3/27/26 at 8:07 pm to Skippy1013
Last year I took a distribution. I'm not going to pay the same this year. I think my tax will be $11000 on investment income this quarter. If it's a 7% penalty, I think I will return much higher remaining in market then giving to the IRS upfront. Maybe I eat it?
Posted on 3/27/26 at 8:09 pm to DiamondDog
i got hammered for a small penalty plus interest for 2024. F the IRS. They need to be disbanded. Crooks.
i most likely will get slammed for a bigger penalty for 2025. my W2 taxes were paid as i write my own salary and my K1 distribution was taken care of. owe nothing on either.
I sold lots of properties this past year plus dividends and rental income. NFW was i "estimating" what i would owe on that. one home did not close until late december. I will pay most of it before i get with my CPA but they will still hit me on what they can from last april til the time i file and pay any difference.
Even with all my deductions/write offs/ and suspended passive losses i will owe a ton to the IRS. probably 6 figures in taxes. Ran my numbers last night. ugh.
i most likely will get slammed for a bigger penalty for 2025. my W2 taxes were paid as i write my own salary and my K1 distribution was taken care of. owe nothing on either.
I sold lots of properties this past year plus dividends and rental income. NFW was i "estimating" what i would owe on that. one home did not close until late december. I will pay most of it before i get with my CPA but they will still hit me on what they can from last april til the time i file and pay any difference.
Even with all my deductions/write offs/ and suspended passive losses i will owe a ton to the IRS. probably 6 figures in taxes. Ran my numbers last night. ugh.
This post was edited on 3/27/26 at 8:12 pm
Posted on 3/27/26 at 8:10 pm to DiamondDog
quote:
If it's a 7% penalty,
that is what they hit me with
Posted on 3/27/26 at 8:21 pm to Fat Bastard
On taxes owed. Not total gains.
Posted on 3/27/26 at 8:25 pm to SmackoverHawg
quote:
On taxes owed. Not total gains.
Posted on 3/27/26 at 8:30 pm to Fat Bastard
Biden's IRS tried to hit me with that shite when I sold all my SLI back in 2021. I sold in the 4th quarter. How TF was I supposed to pay BEFORE I made money? Won my appeal and finally got my check about 6 months ago. After Trump's IRS reviewed it, I got about 30% more than I was initially told I would be getting.
Posted on 3/27/26 at 9:22 pm to SmackoverHawg
I don’t even understand the scenario. You sell a stock and if you don’t prepay taxes you get penalized for not prepaying the taxes?
Posted on 3/27/26 at 9:54 pm to lsuconnman
quote:
ou sell a stock and if you don’t prepay taxes you get penalized for not prepaying the taxes?
You don't pre-pay. That's the bullshite of it. How the f#$k can I pay on profit I hadn't made yet and it was in Q4. Shady, that's why I won my appeal. Raped me on estimated taxes the next year and then held my money for 4.5 years after I won my appeal.
That's why it don't make sense. It was bullshite. I've had shite like that happen twice in my life. Once under Obama and then Biden. Both time it took years to get my money back.
This post was edited on 3/27/26 at 9:55 pm
Posted on 3/27/26 at 11:06 pm to SmackoverHawg
I only buy high and sell low so I’ve never had that problem.
Posted on 3/28/26 at 12:21 am to DiamondDog
You don’t have to pay estimated taxes on realized gains. The IRS is very understanding about that. They will just look the other way to make it easier on you…
Posted on 3/28/26 at 7:55 am to LSURussian
I think estimated taxes are such bullshite
It should just be you report all your net total income at the end of each year and pay the taxes on it
It should just be you report all your net total income at the end of each year and pay the taxes on it
Posted on 3/28/26 at 10:09 am to DiamondDog
If you are still working you have the option to adjust your withholding at work to pay the taxes throughout the rest of the year. I think you avoid any penalty by doing that.
I adjust my withholding take care of my taxes on monthly Roth conversions.
I adjust my withholding take care of my taxes on monthly Roth conversions.
Posted on 3/28/26 at 12:04 pm to DiamondDog
They give you a pass the first time you don't pay tax owed, but expect you to pay it in the quarter it was realized. The transaction dates are used to determine this.
Posted on 3/28/26 at 12:37 pm to deltaland
quote:
I think estimated taxes are such bullshite
It should just be you report all your net total income at the end of each year and pay the taxes on it
But your idea violates the IRS rule, "Pay as you go."
Posted on 3/28/26 at 12:51 pm to deltaland
quote:
I think estimated taxes are such bullshite
It should just be you report all your net total income at the end of each year and pay the taxes on it
It is no different than paying taxes each paycheck for w2 earners. The government needs to collect money throughout the year. There are plenty of other concerns with taxes that are worse than this.
Posted on 3/28/26 at 4:48 pm to SmackoverHawg
quote:
That's why it don't make sense. It was bullshite. I've had shite like that happen twice in my life. Once under Obama and then Biden. Both time it took years to get my money back.
it is a joke. that whole department needs to be disbanded. be nice if income taxes were scrapped.
Posted on 3/28/26 at 7:17 pm to KWL85
quote:
It is no different than paying taxes each paycheck for w2 earners. The government needs to collect money throughout the year. There are plenty of other concerns with taxes that are worse than this.
It's still bullshite. I don't know what I'm gonna make until the end of the year. We'll settle up then. They sure take their mf'ing time to get me my money back.
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