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
I inherited farm land in 2015. This year I sold the property
I inherited farm land in 2015. This year I sold the property and want to know if I have to pay Capital Gains? … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,599 satisfied customers
In 1960, my mom and Dad bought a 52 acre farm and house for
In 1960, my mom and Dad bought a 52 acre farm and house for $9,000. Both names on the deed. My Dad passed away in 1999. Mom added my sister's name and mine on the deed, as joint owners with her. Her n… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,599 satisfied customers
Jim, would the sale of the land be considered a long term
Jim, would the sale of the land be considered a long term capital gain? My husband and I are retired but with our pensions and social security our gross income approaches 100K annually. I am really go… read more
JeffS6413
JeffS6413
Principal/Advisor
Master's Degree
2,441 satisfied customers
We will be selling a family farm this year. Our share will
We will be selling a family farm this year. Our share will be approximately 300,000. Can I find out how much capital gains I will have to pay? How long will I ave before I can reinvest it into real es… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,599 satisfied customers
If you sell farm land that you inherited several years ago
if you sell farm land that you inherited several years ago is there an amount that is exempt from capital gains? … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,702 satisfied customers
In September 2016 my husband inherited 20 acres of land. In
In September 2016 my husband inherited 20 acres of land. In December 2016 the land was sold for $150,000 (his share because there was a total of 300 acres of land divided between all the heirs). Our a… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,563 satisfied customers
I inherited 60 acre farm from my father 2010. I sold that
I inherited 60 acre farm from my father 2010 . I sold that property 2016. I do not know the valve of the property when he passed. I think I will have to pay gain only . … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,563 satisfied customers
My sister and I inherited my father's farm land in Miss. in
My sister and I inherited my father's farm land in Miss. in 1977. We plan to sell it soon. It was worth appx. $2,000.00 an acre at the time of his death.Now planning to sell for around $4.400.00. I kn… read more
Barbara
Barbara
Enrolled Agent, Paralegal
21,360 satisfied customers
In 2013 my mom gave a 28 acre farm to my son (disabled) and
In 2013 my mom gave a 28 acre farm to my son (disabled) and me because we were caring for her until her death July 2015. This year I sold 9 acres. I want to sell 10 more. We live in a double wide on p… read more
Rick
Rick
MBA
12,988 satisfied customers
I am inheriting 1/3rd of land originally willed in 'life
I am inheriting 1/3rd of land originally willed in 'life estate' by my grandfather to his children and then 'per stirpes' to their issue. My grandfather died in 1970. Land has been farmed and all taxe… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,779 satisfied customers
I am selling my farm for 280000. I have loan against it for
I am selling my farm for 280000. I have loan against it for 120000. If I pay off loan will this come off total saying price for capital gains tax?… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,779 satisfied customers
My mother is 98 years old, has dementia, and is living in a
My mother is 98 years old, has dementia, and is living in a rural Colorado skilled nursing facility. She has social security, some help from a long-term care policy, and is self-paying due to the sale… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
3,960 satisfied customers
Follow-up question on Capital Gains Taxes: Could you define
Follow-up question on Capital Gains Taxes: Could you define "commercial enterprise" ? We cash rented our farm ground to a farmer and claimed this income on our taxes. Is this considered a commercial b… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
3,960 satisfied customers
We are selling our home and farmland and need more info about
We are selling our home and farmland and need more info about capital gains taxes and how it will effect our income taxes, etc. Can you offer any suggestions?… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
3,960 satisfied customers
My wife and I live in Michigan. We just sold a 5 acre plot
My wife and I live in Michigan. We just sold a 5 acre plot of land in Tennessee. The land originally belong to my wife's grandparents as part of a 45 acre farm. Then 15 acres of the original 45 was wi… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
3,960 satisfied customers
In 2009 upon my uncles passing my sister, dad, and I inherited
In 2009 upon my uncles passing my sister, dad, and I inherited equal shares of his 120acres=fair market value $1100 an acre. September 3, 2011 my father passed away and his adjoining 120acres appraise… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
3,960 satisfied customers
My brother and I are considering accepting an offer on a small
My brother and I are considering accepting an offer on a small piece of property(about 1/5 of an acre) on which several cell tower companies are located. We have been receiving rent of around $1,500 a… read more
FredStevens
FredStevens
Accountant
Bachelor's Degree
37 satisfied customers
If we inherited a small farm house and about 200 acres of land
If we inherited a small farm house and about 200 acres of land from our dad when he passed and we don't live there (three kids, three different states), do capital gain taxes apply like it was your pr… 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

3,960 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