Sherborne sold his rental house in California, for a sales price of $750,000. He recognized a capital gain of $100,000 from the sale of his rental house. How much from the sales proceeds is withheld and sent to the California Franchise Tax Board as an estimated tax payment?

Group of answer choices

$3,330

$24,750

$15,000

$0

Answer rating: 100% (QA)

3rd option is correct Correct ... View the full answer