Capital Gains Estimated Tax Calculator

012: Capital Gains Estimated Tax Calculator

If you're making the trades and the winnings are coming in, you MAY need to pay taxes! Stocklog+ makes it easy for you to get close enough to know what your Capital Gains Tax is for remit.

The IRS suggest you pay taxes quarterly, which does make sense, because it's easier to write a $380 check every 3-4 months .vs. $3,800 check at one time. The rules are a bit complicated but you can simplify the whole process by sending quarterly taxes and settling-up when you submit your annual tax returns.

If you decide quarterly payments is something you should do, make it easy on yourself and create a direct account using the IRS Direct Payment Portal to guarantee you're sending it to the right place - no middle man needed or required! You can also create your account there or HERE.
 
  • Estimated tax payments are generally due as follows:
    • Jan   1   to March 31  -> Due By: April 15
    • April 1  to May 31       -> Due By: June 15
    • June 1  to Aug. 31      -> Due By: Sept. 15
    • Sept 1  to Dec. 31      -> Due By: Jan. 15 of the following year

Here are some things to keep in mind using Stocklog+ Capital Gains Estimated Tax Calculator :
  1. Uses the settlement date to determine gain or loss of funds
  2. Enter tax rates in the Account Entry window
  3. Does not try to calculate wash sales or any complicated strategies
  4. Does not deduct losses from the gains. The IRS doesn't care how much you loose quarterly, only what you gain!