Capital Gains and Losses

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My 71 yr old father is looking to sell a rental property
My 71 yr old father is looking to sell a rental property that he has lived in on and off for the last few years. He is retired and both my parents make about $50k in income combined. The capital gains… read more
Barbara
Barbara
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I have two questions and hope that I can get assistance on
Hi I have two questions and hope that I can get assistance on the same: 1. If I have to withdraw from Roth IRA before the retirement age, can I withdraw any amount that I put in from tax paid contribu… read more
Barbara
Barbara
Enrolled Agent, Paralegal
21,752 satisfied customers
We are 81 & 83 just sold our house. What percentage of
We are 81 & 83 just sold our house. What percentage of Capital gains do we pay? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
My wife and I are over 80 years old, get $43000 social
My wife and I are over 80 years old, get $43000 social security, withdraw around 25000 per year from IRAs ...paid 0 tax for 2018 due to lots of deductions. We are selling piece of land..partly inherit… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
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Curious if capital gains tax for an S Corporation can be
Curious if capital gains tax for an S Corporation can be reduces in any way... … read more
Chad EA, CDFA®, CFP®
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IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
If i reninvest in the phillipines property how much capital
if i reninvest in the phillipines property how much capital gains do i pay … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,916 satisfied customers
I need to get a tax question answered. I will have a term
Hello my name is ***** ***** I need to get a tax question answered. I will have a long term capital gains amount and want to know how it affects my tax liability for 2018. I have Ordinary income of 14… read more
Barbara
Barbara
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21,752 satisfied customers
I have a very complex situation. My house has been in
I have a very complex situation. My house has been in preforeclosure for several years while I struggled with the bank in an attempt to get a loan modification. Not happening. Now I have to sell while… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
1,069 satisfied customers
Purchased a condominum in Chicaho,Il,3 months ago.Suposse
Mary purchased a condominum in Chicaho,Il,3 months ago.Suposse she paid $120000.She spent 10000 for renovation.She decides to sell and sells the condo 5 mobths after purchase,for $ 170000.She paid $80… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
We are planning to move from Denver, CO, to the D.C. area
We are planning to move from Denver, CO, to the D.C. area (VA, MD, DC) next year. We have two houses here in Denver, the one we moved to 7.5 yrs ago and lived in with our family, which has almost doub… read more
Barbara
Barbara
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My husband and I are selling our rental property for
My husband and I are selling our rental property for $260,000 to our 2 sons. I also am trying to buy my sister's half of a cottage in CT that my mother left us in her will. I am thinking about tearing… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
24,080 satisfied customers
Does a married couple get a one time exemption for capital
does a married couple get a one time exemption for capital gains for investment property. Can they deduct off the gain any money spent on the rental over the period of them owing it? We were told we g… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,498 satisfied customers
We have a property to sell we will acquire capital gains of
we have a property to sell we will acquire capital gains of approx 100,000. The house is currently a rental property we want to sell. Do we have to pay capital gains right away, in 2 years? Can we put… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,916 satisfied customers
I purchased a 4 family house in Rochester, NY in 2003 and
I purchased a 4 family house in Rochester, NY in 2003 and paid 100,000 for it. The house is under a sale contract for 150,000 and will close in January 2016. I have put on a new roof for 7000 and adde… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,155 satisfied customers
we are liquidating apartments and commercial space in a building
we are liquidating apartments and commercial space in a building which we completed the construction of in 1983 and formed a condominium, We have held these apartments in condominium form and rented t… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
271 satisfied customers
Will my rental property business have to pay capital gains
Will my rental property business have to pay capital gains this year on the rental properties I sold, when the total proceeds went to the bank to payoff commercial loans? We did not receive a dime for… read more
PhillipB EA
PhillipB EA
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My wife and I purchased a home in 1991 for $33000 and lived
My wife and I purchased a home in 1991 for $33000 and lived in it for 4 years. We had to move in 1995 because of my Military transfer. We purchased another home in the area I was transferred to, but w… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
271 satisfied customers
Looking for answers on capital gains ruling. We bought a 2
Looking for answers on capital gains ruling. We bought a 2 family in 1982 for 74,000. This was our primary home until 2008, the rental portion of the home was not rented after January 2006. So no inco… read more
R. Klein, EA
R. Klein, EA
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