thanks Diane,
very helpful, another step I could try just to get a rough idea. appreciate it
have a great day, sharry
-----Original Message-----
>From: Diana Kwiatkowski <shadowfaxgolden@gmail.com>
>Sent: Aug 16, 2011 5:18 AM
>To: DoIt_Yourself@yahoogroups.com
>Subject: Re: [DIY] Off Topic 2011 Estimated Tax and TurboTax Any how to tips?
>
>The best way you can figure out if you owe any taxes is take a look at last
>years tax return.
>
>Do a schedule d. Or use a piece of paper and put down your purchase price
>and sold price. Should you come up with a gain ( profit) you will need to
>estimate at least 10 percent of your profit for your taxes. Also, keep in
>mind you can pay at the end of the year up to 2500.00 in tax. Long term
>gains are taxed at 10 percent. I would leave turbo tax alone it sometimes
>figures things incorrectly.
>
>
>Take you income from 2010 taxes and just add in you gains and and subtract
>your exemptions and standard deducation and multiply by 10% at least that is
>what you need to pay in or stash away to pay later.
>
>Hope this helps.
>Diana Kwiatkowski
>
>
>On Mon, Aug 15, 2011 at 8:11 PM, Sharry Dunn <sharry_dunn@earthlink.net>wrote:
>
>> **
>>
>>
>> Good afternoon, I know this is off topic, but not sure if acceptable to
>> post this type of question. Apologies if this is not appropriate question
>> here.
>>
>> I sold a few stocks last week and may need to pay estimated taxes and
>> wanted to do this without going to CPA. I have never used Turbo tax but
>> thought it might make it easy to figure out the estimated taxes if any are
>> due. I recently bought TurboTax 2010 on eBay, but not sure what steps I need
>> to follow to determine if I have 2011 Estimated tax payment due for Sept
>> 15th.
>>
>> I have a pdf file from the cpa for 2010 taxes which I may be able to import
>> into TurboTax; don't know what steps to follow to use 2011 income and will
>> Turbo Tax automatically figure out the Estimated payments? If anyone has
>> suggestions or a quick HOW TO list of steps to follow, I'll appreciate it
>>
>> Thanks so much,
>>
>> sharry
>>
>>
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