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You need to have 112% of your 2002 federal taxes withheld or paid as an estimated tax payment to avoid underpayment penalties.

This is incorrect. As I make it, cabinmama's 2002 AGI was well under 150K, so safe harbor (to avoid underpayment penalty) is 100% of 2002 taxes. This year's (2003's) AGI may exceed $150K, in which case next year's safe harbor would be 112% of 2003 tax...

Otherwise, debra's comments are accurate. And losses from the sale of stock can indeed help to offset the real estate gain.

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