Capital Gains and Losses

Capital Gains Tax Questions? Ask a Tax Advisor for Answers ASAP

Connect one-on-one with {0} who will answer your question

Related Capital Gains and Losses Questions
My son and I bought my parent's house when they dies, since
My son and I bought my parent's house when they dies, since it is close to the university my son attends. We are both on the loan, title, and deed. My son lived in the house for two years. I did not l… read more
Barbara
Barbara
Enrolled Agent, Paralegal
20,976 satisfied customers
I gave my Husband $233,000 of the Capital Gains Profit. His
I gave my Husband $233,000 of the Capital Gains Profit. His income is $13,000 a year so he is exempt from paying Capital Gains due to his Low Income. Is this Correct since his Income is less than $40,… read more
JeffS6413
JeffS6413
Principal/Advisor
Master's Degree
2,368 satisfied customers
I have social security as my income, however purchased a
I have social security as my income, however purchased a house and resold it in the same year and made a profit. Is there anyway to reduce taxes on it? … read more
ALEX O
ALEX O
Partner O & G Tax
Master's Degree
5,413 satisfied customers
We have not prepared any paperwork or signed anything with
We have not prepared any paperwork or signed anything with the mortgage company. … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,545 satisfied customers
1) My parents owned a house outright in North Carolina. When
1) My parents owned a house outright in North Carolina. When my father passed away 5 years ago, my mother was in ill health so we immediately transferred ownership to my adult daughter (their granddau… read more
Barbara
Barbara
Enrolled Agent, Paralegal
20,976 satisfied customers
I own a home in Arizona and live in Utah. My disabled son
i own a home in Arizona and live in Utah. My disabled son lives in this home and has for several years. He doesnt pay rent and I have never used it for any tax benifits. If I sell it, of course for a … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
I have a rental property that was sold, and she netted
Hi I have a rental property that was sold, and she netted 43126.57, and when it asks for the total sales price, it doesn't give a place where you can put the deductions from the sales, and when I ente… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,026 satisfied customers
I am a member of a family irrevocable trust. Property in the
I am a member of a family irrevocable trust. Property in the 15 year old trust was sold the first of the year. I received $20000.The trustee will be having the tax done first of next year. He has told… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,026 satisfied customers
In 2012 we gave a house we owned to our son for a dollar, he
In 2012 we gave a house we owned to our son for a dollar, he recently deeded the house back to us for one dollar now we have sold the house for 90000. dollar. We purchased the house in 1976 for 32000.… read more
Carter McBride
Carter McBride
LLM
8,030 satisfied customers
We sold 1.8 acres with our horse barn on the property. We
we sold 1.8 acres with our horse barn on the property. We had owned the property for 20 years. We had quite an investment in the barn. The new owner had it appraised so he could have it insured, total… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,801 satisfied customers
I have a home that my son has been renting for the monthly
I have a home that my son has been renting for the monthly payment for the last few years. Because I rent it to him for way below market value, I do not file it as a rental. Just claim his payments as… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
In the 80s, my father bought a large track of land and last
In the 80s, my father bought a large track of land and last year gave a portion of it to me and my husband. We estimate that portion to be worth about $120,000. He is a contractor and built us a house… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,026 satisfied customers
My husband and I went through a divorce. I was on the deed
My husband and I went through a divorce. I was on the deed but not the mortgage. We had a capital gain. He was sent a 1099 saying the sale was reported under his SSN. Do I owe half of the capital gain… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,759 satisfied customers
If my parents gave me a house $0 gift on nov 2015 and i sold
if my parents gave me a house $0 gift on nov 2015 and i sold the house on 2016. what would be my capital gain and how much would i be taxed on if the value of the home on nov 2015 was $189k and the ho… read more
Jason M. Tyra, CPA
Jason M. Tyra, CPA
Principal
Master's Degree
168 satisfied customers
My husband sold s rental house in Texas this year ,500. The
my husband sold his rental house in Texas this year for 47,500. The house was purchased for $40,000 in 1980 and has never been occupied by him. He co-owned the house with family members and the house … read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,801 satisfied customers
My elderly Mum passed away in June this year..She had a house
My elderly Mum passed away in June this year..She had a house in South Australia in which needs to be sold & split amoung 4 siblings..my "Q" is My elder sister has always lived with my Mum & is to rec… read more
taxmanrog
taxmanrog
Master's Degree
2,202 satisfied customers
I have a house in which I live and another in which my son
I have a house in which I live and another in which my son lives and where I may visit for a month at a time. I would like to sell the house my son lives in and claim it as my principal residence and … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,759 satisfied customers
I have been living in a house belonging to my my ex-partner
I have been living in a house belonging to my my ex-partner with our six year old daughter for the last seven years. He purchased his own home five years ago, and has continued to pay the mortgage on … read more
Bill-the-CPA
Bill-the-CPA
Certified Public Accountant (CPA)
Master's Degree
55 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

jgordosea

jgordosea

Enrolled Agent

173 satisfied customers

As an Enrolled Agent you can be ensured of my competence in income tax matters.

PhillipB EA

PhillipB EA

Accountant

130 satisfied customers

Enrolled Agent with 8 years experience in tax return preparation, representation, and taxpayer consultation

Arthur Rubin

Arthur Rubin

Tax Preparer

86 satisfied customers

Over 22 years of tax preparation experience.

Bill-the-CPA

Bill-the-CPA

Certified Public Accountant (CPA)

55 satisfied customers

Seasoned professional with over 15 years in public accounting. Income, sales and property tax. Also accounting/tax software.

FredStevens

FredStevens

Accountant

37 satisfied customers

Experienced in business, accounting and tax planning for individuals, small/medium sized businesses and non-profit organizations

Shane-CPA

Shane-CPA

CPA, PFS, CGMA

11 satisfied customers

Shane Northrop is a Certified Public Accountant, Personal Financial Specialist and a Chartered Global Management Accountant

R. Klein, EA

R. Klein, EA

Enrolled Agent

271 satisfied customers

Over 20 Years experience in resolving tough tax cases

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x