Capital Gains and Losses

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We have a tax question. I am purchasing my sister's home in
We have a tax question. I am purchasing my sister's home in California which she purchased in 2013 for $270,000 (and refinanced in Nov. 2020 for $315,000). The home was appraised at $535,000. We are g… read more
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In 1960, my mom and Dad bought a 52 acre farm and house for
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I SOLD FARM PROPERTY 3 YEARS AGO AND AGREED TO CARRY A NOTE
I SOLD FARM PROPERTY 3 YEARS AGO AND AGREED TO CARRY A NOTE WITH A BALLOON PAYMENT DUE. THE BUYER OF MY PROPERTY CONVERTED THE PROPERTY INTO AN RV PARK WHERE SHE INVESTED AN ADDITIONAL $500,000.. SHE … read more
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If my mother gifts me acreage is there some point where I
If my mother gifts me acreage is there some point where I wouldn't have to pay capital gains taxes if I sold the land? … read more
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Jim, would the sale of the land be considered a long term
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My sister and I inherited my father's farm land in Miss. in
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I have 45 acres of just farm ground - no buildings. If I
I have 45 acres of just farm ground - no buildings. If I sell this can I buy fewer acres of farm ground with a home on it and avoid Capital Gaines Taxes. If so, how much farm ground must I by for this… read more
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Hello. My mom passed away in 2012, owned a farm for 50+ years,
Hello. My mom passed away in 2012, owned a farm for 50+ years, and the trust sold the farm early in 2013. An appraisal was made, but the farm sold for over $500,000 higher than the appraisal. Our trus… read more
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My wife will inherit land worth aproximatly 9000 per acre
my wife will inherit land worth aproximatly 9000 per acre from father but it is in will that her brothers get to buy her share at 3000 per acre what will her tax be… read more
R. Klein, EA
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We have lived in current home for 7 years however it was originally purchased by my sister. We lived together for 4.5 years before she married and moved into her own home elsewhere. I have continued t… read more
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