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From: koch@sousa.DEC (Kevin Koch LTN1-2/B17 DTN229-6274)
Newsgroups: net.taxes
Subject: Question about estimated taxes and witholding
Message-ID: <1556@decwrl.DEC.COM>
Date: Fri, 7-Mar-86 08:47:04 EST
Article-I.D.: decwrl.1556
Posted: Fri Mar  7 08:47:04 1986
Date-Received: Mon, 10-Mar-86 08:31:20 EST
Sender: daemon@decwrl.DEC.COM
Organization: Digital Equipment Corporation
Lines: 13


     In a month or so I'll be selling a house on which I will have 
about a $30,000 tax liability.  Obviously I'd like to hold onto that 
money as long as possible.  This means I need to avoid paying 
quarterly estimated taxes, so that I can keep the money until April,
1987. 

     Am I correct in believing that I do not have to pay estimated 
taxes, and will not be subject to a fine for underpayment, as long as 
the amount I have withheld from my salary in 1986 exceeds my 1985 tax?

Kevin Koch (Koch is it)
...decwrl!dec-rhea!dec-sousa!koch  // koch%sousa.dec@decwrl.arpa