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I played this game once......
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Posted by MI-Roger [Email] (#882) [Profile/Gallery] (more from MI-Roger) on Thu, 13 Apr 2006 17:48:23 Share Post by Email
In Reply to: quartery tax installments on stockmarket gains ???, Dean, Thu, 13 Apr 2006 17:20:42
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and the exact situation you described happened. I deliberately underpaid the first quarterly installment in anticipation of possible weaker yields later in the year eventhough I made substantial gains in that quarter. Quarters #2 and #3 saw little or no gain, and I filed the quarterly statements showing zero owed. Quarter #4 was a bust also and I didn't even bother to file that quarterly statement (I am pretty sure it was legal then, and maybe now too).

In 2005 I expected to have substantial gains so I increased my regular withholding to avoid having to play the Quarterly Estimated Tax Roulette game in 2006. My 2005 gains were large but unrealized (I didn't sell the winners in 2005 since they were still climbing), so I got an embarrassingly large refund from the IRS in mid-February (e-file with Direct Deposit and you have your money in 7 to 10 days!).

I always try to pay my withholdings so that the net difference owed/due after completing the 1040 is under $50. I usually achieve my goal too!

posted by 68.40.14... 
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Saabs owned:
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2006 9-3SC 2.0T - Wife's daily driver
2000 Viggen Convertible - Sold May, 2022
1964 Quantum IV Formula Car - Retirement project
2000 9-5lpt Sedan, sold at 318K miles
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