Usually Minwax putty is used when you want to match the color of your woodwork…….it fills the nail holes. Then a final coat of polyurethane, or other clear coats is applied to finish it off. If you are filling nail holes on woodwork that will be painted, just use spackle, let it dry, sand it flush with the wood, spot prime it with latex primer, and then apply your final topcoat.
If you paint over Minwax putty with ANY kind of paint, you usually get bleed through which will leave spots on your woodwork. I don't recommend it if you plan on painting your trim.
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