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Recent Dividend Tax questions

I sold my half of a Condo in Fl to my brother. He is sole

I sold my half of a Condo in Fl to my brother. He is sole owner now. Will I have to pay tax of any kind when I fill out my income tax.I have been claiming 1/2 for over ten years. On income tax, our accountant has used depreciated value.After paying off Mortgage, my half is $40,000

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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This year I sold my shares in my family ranch (S-Corp) back

Hello. This year I sold my shares in my family ranch (S-Corp) back to the corporation for $152,000. How will this affect my taxes? This amount is approximately 65% of what the price might be on the market.

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Lane

JD, MBA, CFP, CRPS

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I am non Us citizen.I have an offshore company.I would like

Hi,I am non Us citizen.I have an offshore company.I would like to trade in Us stock market,trough Us online brokerage firms.My question is:I need to pay Tax in Us after capital gain or i need to pay in my country?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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I have heard there is a special tax on S-Corps that

I have heard there is a special tax on S-Corps that converted from C-Corps and have more than $1M in retained earnings. However, I can't find any information online. Can you reference the code / IRS publications?

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Mark Taylor

Certified Public Accountant

Masters

1,250 satisfied customers
I have been renting a property to my sibling years. She is

I have been renting a property to my sibling for 5 years. She is moving and I plan to sell the property for a $100,000 profit. I plan to give her $75,000 of the profit for a down-payment on her first home. Can I deduct the $75,000 as a selling expense on my taxes?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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I have a question related to publication 519 ( i´m a

hi. i have a question related to publication 519 (http://taxmap.ntis.gov/taxmap/pubs/p519-014.htm).i´m a brazilian, and i live in Brazil; i was never an US-resident.a) i have an account with an US-based brokerage firm, and I currently trade stocks, securities and commodities in the USb) i am considering to acquire a stake in the company incorporated in Floridacurrently, i understand that i am a non-resident alien, and therefore i should not pay taxes in the US (including related to the securities trading activities).my questions are:if "b" above takes place, which would be my tax duties? would it have an impact on taxes related to activity "a"?i look forward hearing from you.all the best,alessandro

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Robin D.

Vocational, Technical or Trade School

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I just sold my house and I am trying to figure out what my

I just sold my house and I am trying to figure out what my capitol gains tax will be.I bought if for $112,000. I sold it for 119,500. I have had it for 15 years and it is not my primary residence. I had it as a rental for 2 years.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,732 satisfied customers
How much capital gains tax will have to be paid if your

How much capital gains tax will have to be paid if your annual income for spouse and self is $50k (includes ss) and you sell a home you purchased for a gain of 35k? Are there deductions that can reduce the tax?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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My mother who was the surviving spouse passed away in April.

My mother who was the surviving spouse passed away in April. The trust that was established contains stock. Me and my two siblings are beneficiaries of the trust and we are looking to dissolve the trust. We have already distributed the cash. We are trying to maximize the value of the stock distributed to us. The question that we have is does it make sense to liquidate the stock in the trust, pay the capital gains tax based on my mother's lower tax basis or is it better to distribute the shares equally to me and my siblings? If we transfer the stock, do we assume the stock at the price basis on the day of the transfer and avoid any capital gains if we liquidate ourselves?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

17,732 satisfied customers
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