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Subject:  Taxes on long term capital gains Date:  7/18/2019  6:22 PM
Author:  TrainMaker Number:  129504 of 129658

I am planning to trim some of my holdings in my taxable account. This will generate a considerable long term capital gains this year.
These gains will be subject to a 15% tax rate. I expect the tax owed will be more than 2 times what was paid last year.
I currently have taxes withheld from my job to cover my normal obligations.
If I do nothing, I would send a very large check to the IRS and state at the time of filing taxes next year.
I do not want to pay any penalties to the IRS. If it was regular income, I know there is a problem owing too much which would result in a penalty.

Is there any difference between regular and long term capital gains?
How does one give the IRS and the state their due and avoid penalties in this situation?

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