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[[I just read the Tax FAQ on estimated taxes....and I know have the following question?]]

Good...glad you found it...

[[ Line 32 of my 1997 adn 1998 Form 1040 (adjusted gross income) is less than $150,000? After I
get my last paycheck on Dec 30 1998 my 1998 W-2 Federal withholding will be $8000 for the
year of 1998. ]]


[[ Line 53 of my 1997 Federal Tax return shows $7965 total tax. Since my 1997 total tax is less then
the total federal tax ($8000) withheld on my 1998 W-2' I exempt from making estimated
tax payments this year on a large stock sale in July with which I incurred a long term capital gains
of aproximately $30,000???]]

Yup. But you had BETTER make sure that your W-2 withholdin is at least $7,966. If you miss it by even ONE DOLLAR, the safe harbor is closed, and you'll have penalties to deal with.

[[ and if so is there any special form I need to fill out so I don't incurr
any penalties. (I use Intuit Macintax each year to do my taxes)]]

You'll file Page 1 of Form 2210. That'll give you the safe harbor exception. Macintax should be able to deal with this just by asking your the appropriate questions. So you should be home free.

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