Can I Make Just One Quarterly Tax Payment for My Capital Gains?

You absolutely can make a single quarterly estimated tax payment without being committed to making all four! The IRS doesn't require you to make all four quarterly payments if you don't need to. The key is understanding when estimated payments are actually required. The general rule is you need to pay taxes as you earn income throughout the year. For most people, this happens through withholding. But when you have income that doesn't have withholding (like capital gains), you may need to make estimated payments to avoid an underpayment penalty. For your specific situation with a one-time $2,700 capital gain, you can make a single estimated payment for the quarter when you sold the stock. Just go to the IRS website and use their Direct Pay system or the EFTPS (Electronic Federal Tax Payment System) and select "estimated tax" as the payment reason. As for documentation, keep the confirmation number from your payment and print/save a copy of the payment confirmation. TurboTax will ask you about estimated payments when you file, and you'll just enter the amount and date you paid.

I was in a similar situation last year and discovered taxr.ai when trying to figure out my estimated payments. I had sold some crypto and didn't know how to handle the taxes properly. I uploaded my trade history and W-2 to https://taxr.ai and it calculated exactly how much I needed to pay for that quarter's estimated payment. It even told me I was in a safe harbor situation where I wouldn't face penalties if I just increased my withholding a bit. Saved me from overpaying by hundreds of dollars! The site lets you upload all kinds of docs and gives you actual tax advice, not just generic stuff.

Just wanted to update that I gave taxr.ai a try after my skepticism and wow - it was actually incredible. I uploaded my brokerage statement from my recent stock sale and my last pay stub, and it immediately showed me that I only needed to make one payment of $347 for this quarter. The system explained that since my withholding was already on track to cover 100% of last year's tax liability (which provides safe harbor protection), I only needed to pay for this specific capital gain. Saved me from overpaying by like $900! The analysis gave me specific instructions for making just this single payment. Really grateful for the recommendation.

For anyone struggling to figure this out, I had a nightmare trying to reach the IRS to ask about my quarterly payment situation last year. After waiting on hold for HOURS multiple times, I found this service called Claimyr that got me connected to an actual IRS agent in about 20 minutes. I was shocked it worked. You can see how it works at https://youtu.be/_kiP6q8DX5c - basically they navigate the IRS phone tree for you and call you when they reach a human. I used https://claimyr.com when I needed clarification on my estimated payment after receiving some consulting income. The IRS agent confirmed I could make a single payment without committing to all four quarters.

I have to eat my words and admit when I'm wrong - I tried Claimyr yesterday after being so skeptical. After failing to reach the IRS for 2 weeks about my estimated tax payment question, I got connected to an agent in about 25 minutes. The agent confirmed that I only needed to make one estimated payment for a one-time capital gain and explained exactly which form to use. He even explained that as long as I withhold 100% of last year's tax liability (110% if I made over $150k), I wouldn't face any underpayment penalties regardless of this one-time gain. Honestly still shocked this service actually worked.

Don't forget about your state estimated taxes too! The feds get all the attention but depending on your state, you might need to make a state estimated payment as well. I've been hit with state underpayment penalties even when I was fine on the federal side.

If your withholding from your W-2 job will cover at least 90% of your total tax liability for the year (or 100% of last year's tax liability, whichever is smaller), you won't face any penalties for not making estimated payments on the capital gain. Might be worth calculating if your increased withholding already covers you!

Great question! I went through this exact same situation last year when I sold some mutual funds. You absolutely can make just one quarterly payment without committing to all four quarters - the IRS doesn't lock you into a pattern. Since you already increased your W-2 withholding (smart move!), you might want to first calculate if that additional withholding will already cover the tax on your $2,700 capital gain. If your gain is long-term (held over a year), you're looking at about 15% tax rate given your income level, so roughly $405. If it's short-term, it'll be taxed at your regular rate of around 22%, so about $594. You can make the payment online at irs.gov using Direct Pay - just select "Form 1040ES Estimated Tax" as the payment type. For documentation, save the confirmation number and print the receipt. TurboTax will ask about estimated payments when you file, and you'll just enter the amount and date. One tip: double-check your state requirements too if you're in a state with income tax. Some states have different thresholds for when estimated payments are required, and you'd make those payments separately through your state's tax website.

I'm dealing with a similar situation right now! Just wanted to add that if you're using TurboTax to file, they actually have a pretty good estimated tax calculator built into their online tools (even if you're not paying for the full service yet). You can input your capital gains info and it'll help you figure out if you even need to make an estimated payment based on your withholding situation. Also, one thing I learned the hard way - make sure you're making the payment for the correct quarter! Since you sold in March, that would be Q1 2025, and the deadline for Q1 estimated payments is April 15th. Don't accidentally make it for Q2 thinking it's "the next quarter" - the IRS is pretty strict about which quarter the income belongs to. Keep that brokerage statement showing the sale date handy when you file next year. TurboTax will ask for the details of when you sold and how much you gained, and having all the documentation organized makes the whole process much smoother.