I've just realized that I have about $40,000 in short term gains from sale of stock for the year. I also have another $15,000 likely. We have been selling stock to pay for a new house. My wife and I have taxable income around $50 - 60K. Two Dependant children and a mortgage deduction. Last year I was penalized for under withholding so I upped my contribution by lower the number of deductions. The problem I see coming is that I have far more gains than I realized.
What is the best way to handle this with only two months to go in this year?
2007-10-18
02:27:21
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7 answers
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asked by
xmasboy
2
in
United States