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Level 1
March 25, 2026
Question

In CA can you annualize income on capital gain from sale of house in Dcember?

  • March 25, 2026
  • 1 reply
  • 5 views
for an individual not a partnership to avoid underpayment penalty on the capital gain in the last month of the year, and estimate payment was sent in for the fourth quarter

    1 reply

    sjrcpa
    Level 15
    March 25, 2026

    Yes you can annualize in CA to reduce an underpayment penalty.

    The more I know the more I don’t know.