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Politics : Formerly About Advanced Micro Devices
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To: Joe NYC who wrote (105814)4/15/2000 2:14:00 AM
From: Pravin Kamdar  Read Replies (3) of 1572185
 
Thread,

I have a tax question for you and would appreciate your help.

I am trying to figure out if I need to pay estimated taxes by this Monday for Q1. Last year I did not have an income and my capital gains were canceled by losses carried forward from a prior year. So, my 1999 tax liability was zero. Now, I have profits of about $250,000 (on stocks sold minus basis in Q1). Must I make an estimated payment on these gains, or can I wait until 4/15/2001 because my income in 2000 was greater than in 1999. Turbo Tax says I don't need to make the estimated payment, but I don't believe it.

Thanks in advance for any opinions.

Pravin.
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