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Personal Finance and Investing

Freethinker65

(11,194 posts)

2. Interesting, that happened to us with massive capital gains paid out in December a few years ago

Reply to question everything (Original post)

Tue Feb 13, 2024, 09:35 PM

Feb 2024

We paid the penalty, and have been filing estimated quarterly taxes since. Last year instead of giving us all of our overpayment, the IRS kept some to pay the first quarterly estimated payment for 2023.

I will wait and see what happens this year. My husband has since retired. We were considering converting some IRAs to Roths as well.

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A Tax Question: Why Did I Get a Refund and an Underpayment Penalty? [View all] question everything Feb 2024 OP

I think the form will ask when you got the money and them match it to the quarter. twodogsbarking Feb 2024 #1

Interesting, that happened to us with massive capital gains paid out in December a few years ago Freethinker65 Feb 2024 #2

Thanks for that. I made an estimated payment at the end of 2022, but it still wasn't enough. mahatmakanejeeves Feb 2024 #3