Capital Gains and Losses

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My wife and I own a farm that has been in the family since
My wife and I own a farm that has been in the family since 1947. We would like to sell the farm to my nephew. Haw can we avoid capital gains on the sale of our property? … read more
Lev
Lev
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Bachelor's Degree Equivalent
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I need help to figure out the capital gains on the sale of
I need help to figure out the capital gains on the sale of farm land in Saskatchewan … read more
AndrewD914
AndrewD914
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Bachelor's Degree
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I currently have a piece of property listed as my address of
I currently have a piece of property listed as my address of convenience for my farm and I have recieved a cash offer on it. Would I be able to sell this property as part of my business (use it as bus… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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Me and my two siblings have a property that we purchased 10
Hello, me and my two siblings have a property that we purchased 10 years ago using some money we received from our late father. The title and owner of the property is a now dissolute entity (since 201… read more
emc011075
emc011075
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My mother deeded over to me 30 acres of farm ground and her
My mother deeded over to me 30 acres of farm ground and her house and outbuildings in 2000 after my father passed away all with a life estate attached. The deeds are in my name and she also gets the a… read more
Dr. Fiona Chen
Dr. Fiona Chen
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Trying to see if I have to pay taxes on home sale. The 5 year thing is confusing me. I did not own the property for 5 yrs before selling it. … read more
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Can capitol gains from a farm which is being strip mined be
Can capitol gains from a farm which is being strip mined be used to acquire other farms? … read more
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I SOLD FARM GROUND RECENTLY AND GETTING OUT OF BUSINESS, IF
I SOLD FARM GROUND RECENTLY AND GETTING OUT OF BUSINESS, I'M WONDERING IF THERE IS A AMOUNT OF TAX EXEMPTION ON CAPITAL GAINS? … read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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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
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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.
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My husband and I own farm land in IL. The farm was gave to
My husband and I own farm land in IL. The farm was gave to him from his mother she owed 180,000.00 on it. We now owe 230,000.00. We are wanting to sell it, we are asking 1,500,000.00 for it. What kind… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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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
Jonathan Tierney
Jonathan Tierney
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I asked this question already but it was closed, I did not
I asked this question already but it was closed, I did not get a clear response. I own a house that we lived in for 10 years. I moved out 2 years ago and had it rented for 1 year, now I want to sell t… read more
Jonathan Tierney
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We built our home on our land & lived in the home full time
We built our home on our land & lived in the home full time as our permanent residence for almost 11 consecutive years. We decided to rent our home to a perspective interested potential buyer mid-2014… read more
Stephen G.
Stephen G.
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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
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We bought our home in 1974, (Phila, Pa), in a part of town
We bought our home in 1974, (Phila, Pa), in a part of town that is not close to the center of the city. The purchase price was, $42K. In 1994 we bought a home in the downtown area of Phila, Pa. We nev… read more
USTaxAdvising
USTaxAdvising
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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
Enrolled Agent
Master's Degree
3,960 satisfied customers
We live in WI and sold our 96 acre farm. We lived here 15 years.
We live in WI and sold our 96 acre farm. We lived here 15 years. We leased about 50 acres to a neighboring farmer and the rest was horse pasture. We stood a stud so we depreciated what we could over t… read more
jgordosea
jgordosea
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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.

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