Capital Gains and Losses

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What is allowed when selling your home as improvements is
What is allowed when selling your home as improvements is the gardener considered an investment painting repairs … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
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I assumed my father's property loan in 1989 for around $40k.
I assumed my father's property loan in 1989 for around $40k. I just sold the property to my daughter for $540k, but gifted her $50k for the downpayment, so I actually sold the property to her for $490… read more
Barbara
Barbara
Enrolled Agent, Paralegal
20,910 satisfied customers
I am looking for information on what home improvements can
Hello I am looking for information on what home improvements can be a write-off when selling my home of 34 years. I already know my husband and I get 500k … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
20,965 satisfied customers
Sold the house for $456,000 I believe I can claim 250 exempt
Sold the house for $456,000 I believe I can claim 250 exempt for capital gains just need to make sure that I am responsible for $206,000 to pay taxes on it 3.33 … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,311 satisfied customers
We have capital gains for the first time, due to selling a
We have capital gains for the first time, due to selling a former residence. We don't meet the 2/5yr exemption. But so many questions about this. Not sure where to start. Wife had breast cancer in 201… read more
Barbara
Barbara
Enrolled Agent, Paralegal
20,910 satisfied customers
My mother quit claimed her home to my sister and myself 9
My mother quit claimed her home to my sister and myself 9 years ago with the stipulation that she could live there until she passed away. She passed away in April and we just sold the home for $253,00… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,516 satisfied customers
Myself and my 3 siblings are selling my parents house that
Myself and my 3 siblings are selling my parents house that was quit claimed deeded over to us when my mom started going through dementia. Do we have to pay capitol gains tax. Plus I am recently separa… read more
Barbara
Barbara
Enrolled Agent, Paralegal
20,910 satisfied customers
We sold our home in state for 875,000. this home was
we sold our home in washington state for 875,000. this home was inherited and was appraised at 497,000 when myself and my two sibling inherited it. my brother and sister and i had a written agreement … read more
Barbara
Barbara
Enrolled Agent, Paralegal
20,910 satisfied customers
My sister purchased a house about 35 years ago and resentful
My sister purchased a house about 35 years ago and resentful past away. The estate was sold for $550,000. What would be capital gains tax to pay? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
My parents (80 and 84) inherited a home when my sister died
Hi Pearl, my parents (80 and 84) inherited a home when my sister died in February. They sold the home and are wanting to save enough to pay for the taxes from the proceeds. How much will they have to … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
Had my parents home given to us in 2004 for $46,000 and
Had my parents home given to us in 2004 for $46,000 and selling it this year for $130,000. We make under $40,000 per year and are 71 years old. We live in Wisconsin and so is the house we are selling.… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,787 satisfied customers
In calculating capital gains on sale of home in California
In calculating capital gains on sale of home in California is the outstanding balance of the mortgage on the primary residence subtracted from the gross sales price to arrive at net sale price? ie. Sa… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
9,553 satisfied customers
My sister and I inherited a house and property from our
My sister and I inherited a house and property from our Mother. We recently sold it after inheriting it in 2012. How can I estimate my capital gains tax?… read more
Jason M. Tyra, CPA
Jason M. Tyra, CPA
Principal
Master's Degree
168 satisfied customers
I sold my house owned 46 years. In figuring capital gains
I sold my house owned 46 years. In figuring capital gains can I add the following to the original cost: 3 roof replacements, painting interior and exterior several times, cutting down dead trees, and … read more
Arthur Rubin
Arthur Rubin
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Doctoral Degree
86 satisfied customers
Our parents put their house in a lift estate, ETAL in July
Our parents put their house in a lift estate, ETAL in July 1993 and both parents passed away. We sold the house Dad, last to die in 2010 and we sold house in 2013. What value of the house is used for … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,748 satisfied customers
i jointly bought my parents home with them whilst living with
i jointly bought my parents home with them whilst living with them and moved into my partners home around twelve years ago. my parents have now both died and my siblings are selling their home. will I… read more
TaxVince
TaxVince
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Master's Degree
899 satisfied customers
In 2008 my Dad died and my sister rushed my mother into putting
In 2008 my Dad died and my sister rushed my mother into putting her name on the deed of the family home. In 2011 my mom died so now my sister's name is XXXXX XXXXX name on the deed. She just sold the … read more
gregmey
gregmey
Financial Planning Associate
Bachelor's Degree
107 satisfied customers
My parents have both passed away in the last year. Two years
My parents have both passed away in the last year. Two years ago they added my name to the deed for the house; therefore, the house is now mine. When I sell the house will I be taxed on the profit fro… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
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