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[[Was I obligated to make an estimated tax deposit for September? and if so can I catch up by
making an estimated tax deposit for December (4th Qtr)? (even though the stocks were sold in
July.
I hear I may be penalized when I do my return for not making estimated tax deposits. My regular
job has Fed and State withholding and although I have made estimated tax deposits in a few years
in the past for various reasons... I never thought to make a deposit this time....as this is the first time
I have had such a large capital gains on a sale of stock and since I invested it back in the market
right away I didn't think about the tax consequence ...thinking I would just have to pay it at the end
of the year.]]

As "rjm" pointed out in a previous post, the answer may be "yes", with a big "but" attached to it.

One of the ways to avoid the underpayment penalty for 1998 is to pay in at least 100% of your 1997 tax. Then you can make any balance due payment on April 15th without penalty or interest. I speak in greater detail on the estimated tax issue in the Taxes FAQ area, and I discuss extimated taxes in MUCH greater detail in The Motley Fool Investment Tax Guide. You should at least move on over to the FAQ area and read up on estimated taxes in order to see if you can carve yourself a little loophole.

TMF Taxes
Roy

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