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Recent Alternative Minimum Tax questions
We have a very large term capital gain . Does this push our
hi...we have a very large long term capital gain for 2016. Does this push our regular income tax into a higher bracket?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: we have a long term capital gain of $330,000 for the 2016 tax year. My wife and I have combined income of about $180.000 and file married jointly. Will the regular income of $180,000 be taxed at the high or highest rates of 35% and 39.5% respectively?JA: Is there anything else important you think the Accountant should know?Customer: noJA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.
I moved from uk to usa nearly 6 years ago on a work visa as
I moved from uk to usa nearly 6 years ago on a work visa as my job transferred me to usa. I just got my greencard. I purchased a leasehold property in uk 16 years ago and have always rented it out, never lived in it. There has been a substantial capital gain. In uk my tax liability is negligible as a non-resident. How can I avoid usa capital gains taxes? I have heard that 1031 exchanges cannot be included for foreign property unless the new property is foreign, is thus true? I have also heard there may be an exception if there was an exceptional circumstance such as moving job.,please advise on whether I need to pay any usa capital gains tax
Bachelor's Degree Equivalent
If I leave a private, venture backed company and exercise vested
If I leave a private, venture backed company and exercise vested incentive options, are there any tax ramifications with respect to AMT (or anything else) at any point in time prior to selling the shares in the event of a liquidity event? Specifically, does the IRS consider there to be any income or gain based on any spread between exercise price and "fair market value" as determined from time to time?
JD, MBA, CFP, CRPS
What are the capital gains tax of a real estate
What are the capital gains tax for sale of a real estate asset in Boston by a non-US citizen (Nonresident alien). Seller is not living in the US and does not have any other business or trade.Please confirm:- what's the specific short-term capital gains tax rate for a non-US citizen- what's the specific long-term capital gains tax rate for a non-US citizen
Bachelor's Degree Equivalent
I bought a house in March 2010. I put it around Feb
I bought a house in March 2010. I put it for rent around Feb 2012. I want to sell the house in 2017. Would I benefit significantly higher if I moved in to the house in the extra room before that and showed it as primary residence, while the other tenants still lived? By benefit significantly, I mean tax savings from the capital gain taxes, exclusion of first 250K, and the depreciation I claimed against the rental property. I understand that obviously there will be some savings but trying to find out how significant they are because there are pros and cons here. Also do I have to include the expenses (mortgage interest and property taxes) that may have claimed as deductions during rental as basis too for taxation if I was to sell in the above manner? I am willing to give more details if I can engage an expert here.
Sr Financial & Tax Consultant
I am a partner of an LLC and have Operating Losses from ScheduleView more tax questions
I am a partner of an LLC and have Operating Losses from Schedule K-1. The Company has less than $5m gross receipts over the past 3 years (Eligible Loss). I would like to carry-back NOL to 2012 (back three years). I have completed Form 1045. What do I need to send with Form 1045 to proof that its an Eligible Loss?