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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Dan Duchardt who wrote (3580)1/21/2001 11:52:17 PM
From: Patrick A. Kelly  Respond to of 5810
 
Thanks you Dan,
I didn't realize that the proper way was so strict:
"unless you specify the positions you are closing at the time you close them, and get documentation from your broker to verify your election."
I've done it wrong for several years and wonder if I should leave the past well enough alone; I'll do it right this year.



To: Dan Duchardt who wrote (3580)1/23/2001 3:53:13 PM
From: Nutty Buddy  Read Replies (2) | Respond to of 5810
 
Help! I realized a sizeable capital gain from the sale of a stock in the 4th quarter 2000. I paid an estimated tax early this month on that gain. Now, Turbo Tax says I owe a penalty because I did not spread the estimated taxes over the the 4 payment periods. Without the penalty, I would get a refund. Is that true that I owe a penalty????

Buddy


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