US Income Tax Thread: Bank error in your favor! GO DIRECTLY TO JAIL.

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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > US Income Tax Thread: Bank error in your favor! GO DIRECTLY TO JAIL.

nnnotime: Sep 30, 2001; Hesitate, and you will be lost.

I had a question about estimated tax payments. I trade stocks infrequently (not a daytrader) and can have both gains and losses per month. I've been paying estimated taxes on gains every estimated payment period. But if I have a loss and a gain, do I sum the two together before determining if estimated tax is due?

For example, if this month I made $1,000 on a stock sale, but then lost $1,000 on another stock sale, would I need to pay estimated tax on the $1,000 gain come April 15th, or do I net the two together for a total gain of zero, so no estimated tax is due?

# ¿ Mar 27, 2011 19:41

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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > US Income Tax Thread: Bank error in your favor! GO DIRECTLY TO JAIL.