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
My. My mother recently sold a house that she received
My mother recently sold a house that she received through my father's will. He was given the home by his parents. My mother has had the house since his death almost nine years ago. It has been vacant for the last twenty years. … read more
Barbara
Barbara
Enrolled Agent, Paralegal
21,317 satisfied customers
I recently acquire an ancestral property in India and sold
Hello, I recently acquire an ancestral property in India and sold it last year. the property was originally purchased in 1976 and sold in 2019. AS per taxation laws in india the capital gain is comput… read more
Barbara
Barbara
Enrolled Agent, Paralegal
21,317 satisfied customers
Two children inherit their parents house in a will. The
Two children inherit their parents house in a will. The house is sold within a few months for the same price as it was worth at inheritance. My understanding is that as far as federal tax there would … read more
Barbara
Barbara
Enrolled Agent, Paralegal
21,317 satisfied customers
SECOND OPINION - My parent's home was an asset in their
Second opinion] SECOND OPINION - My parent's home was an asset in their Revocable Living Trust. They have now both passed away and as the Successor Trustee I sold the home in 2019. Did the cost basis … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,680 satisfied customers
SECOND OPINION - My parent's home was an asset in their
SECOND OPINION - My parent's home was an asset in their Revocable Living Trust. They have now both passed away and as the Successor Trustee I sold the home in 2019. Did the cost basis of the home step… read more
Anne
Anne
Master Tax Preparer
2,601 satisfied customers
When my parents die, I will inherit their house, all
When my parents die, I will inherit their house , all possessions, and hundreds o thousands of dollars. It is all set up in a trust allready. How can i avoid taxes on all of this?… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
Question My Mom had a Living Trust formed in 1992 with my
Question My Mom had a Living Trust formed in 1992 with my Dad as the sole Trustee/Beneficiary. The Trusts assets were real estate that they had owned jointly before establishing the trust. Per the tru… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,558 satisfied customers
1). How can Investments/Returns/Gains in the NON-US Mutual
1). How can Investments/Returns/Gains in the NON-US Mutual funds NOT be treated as investments under the Passive Foreign Investment Company (PFIC)? What documents should the the NON-US Mutual funds su… read more
Barbara
Barbara
Enrolled Agent, Paralegal
21,317 satisfied customers
Client inherited house before mother died. Can you verify
Client inherited house before mother died. Can you verify that the client's basis is the original cost plus improvements from the mother? Thank You, Fred… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
1,068 satisfied customers
My Mom lived in the state of ( County) USA. I am the
My Mom lived in the state of Washington (King County) USA. I am the executor of my Mom's small estate that is far below the IRS form 706 filing requirement. She had approximately 500 shares of AT&T he… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 satisfied customers
Hi,Id like to get your input on Schedule A and B in Part
Hi, I'd like to get your input on Schedule A and B in Part I on Form 3520 that I need to file for tax year 2011 when the Canadian Mutual funds were purchased (transfer to a foreign trust). I'm thinkin… read more
taxmanrog
taxmanrog
Master's Degree
2,202 satisfied customers
I am a US citizen who purchased a Canadian mutual fund in April
I am a US citizen who purchased a Canadian mutual fund in April 2011 for $15,000 C It was joint account with my Canadian wife. It was a dividend fund and the occasional dividends were reinvested in ne… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,904 satisfied customers
I bought couple of mutual funds (X, Y) in Apr 2011. I have
I bought couple of mutual funds (X, Y) in Apr 2011. I have losses in 2011 on both X & Y and my tax preparer showed the losses in form 8621. However these losses are not included in any schedule. Of th… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,779 satisfied customers
HelloI have been investing on Mutual funds in my country
Hello I have been investing on Mutual funds in my country and continue to invest every month. I came to US this year on a work visa and was wondering on whether I need to declare anything about these … read more
socrateaser
socrateaser
1,544 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
271 satisfied customers
My mother-in-law is 83 years old. She has two children and
My mother-in-law is 83 years old. She has two children and 9 grand children. She has a trust for her estate which at this time has an approximate value of $1.75 million, and currently all the assets a… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
271 satisfied customers
In 2011 I purchased a PFIC which is a QEF and I still hold
In 2011 I purchased a PFIC which is a QEF and I still hold it. It paid no income, dividends, etc. Do I need to file a 8621 with my 2011 return or only file it for a year in which a gain, loss or incom… read more
USTaxAdvising
USTaxAdvising
Accountant
Bachelor's Degree
1,237 satisfied customers
On IRS Form 8621, how do I report a Mark-to-Market Election
On IRS Form 8621, how do I report a Mark-to-Market Election for a Section 1296 PFIC stock purchased and sold at a loss within the current tax year? I assume the following: (1) I would fill out items 8… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 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

271 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