How To Avoid Tax Penalty When Selling A Rental Property

[Ben T.]

Hello - I will send a rental property this year. LT gain expected of about $200k. My wife and I are above $150k AGI. 

Can one please explain to me how to avoid underpayment penalty? I am confused with “quarterly estimated payments”. Wife and I are on W2. Do estimated payments apply to me ie have to make those quarterly? 

Just explanation of what I need to do will help.