Quarterly Estimated Witholding on Flips?

[Nikki Kofkin]

Hey everyone, so I sold two properties so far this year, one more in a couple of weeks, and one more hopefully before the end of the year. All in Chicago. One was a long term buy and hold and three are flips. Long term buy and hold sold in January, one flip sold in June, another flip will sell in a couple of weeks, and another flip hopefully before the end of the year. I pay quarterly estimated withholding on my real estate commission income, but I don't know about the capital gains income. And since I didn't pay any quarterly estimated withholding first quarter, will I get penalties? Can I make it up in this second quarter? Taxes drive me crazy. Why is it so hard?! Thanks so much.