Capital Gains and Losses

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I'm selling a home in California that I co-own with my soon
Hi, I'm selling a home in California that I co-own with my soon to be ex-wife. We want to make sure status and exemptions are represented right on our 1099 and 593 forms. In 2021 we filed jointly unde… read more
emc011075
emc011075
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I have a question regarding capital gain taxes upon selling
Hey there! I have a question regarding capital gain taxes upon selling a home. It is located in Washington State and my mother has owned the home since 1992. The purchase price was $115,000. It was us… read more
Barbara
Barbara
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If husband and I live in separate homes in California both
If husband and I live in separate homes in California both are our primary residence and we sell one, what are the tax implications for selling the one home (capital gains) and what if in future we ch… read more
Barbara
Barbara
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I sold a house that had been a rental for the last 10 years.
I sold a house that had been a rental for the last 10 years. I want to know if any of the following can be deducted from the sales price. … read more
Barbara
Barbara
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I have a rental property that was sold, and she netted
Hi I have a rental property that was sold, and she netted 43126.57, and when it asks for the total sales price, it doesn't give a place where you can put the deductions from the sales, and when I ente… read more
Lane
Lane
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Robin, I am still trying to figure out my strategy in
Hi Robin, I am still trying to figure out my strategy in regards ***** ***** property in preforeclosure as I prepare to sell. Can you help me work out what might be left after I sell the house - just … read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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Re: 1099-S If a term owner of a property in Ohio sells the
Re: 1099-SHello, If a long term owner of a property in Ohio sells the property, basically under forced power lines being put over property and electric company agreed to just buy, does the seller need… read more
Lev
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I have a question for a tax professional who is familiar
Hi, I have a question for a tax professional who is familiar with capital gains and family law.My ex husband and I got divorced in 2009, amicable divorce. When married we purchased a house in 2004 for… read more
Mark Taylor
Mark Taylor
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I am selling my home/apartment. What taxes should I be paying? I
I am selling my home/apartment. What taxes should I be paying? I paid #350,000 for this apartment in 2000 and did usual renovations Sold apt for $955,000. Please give me an idea of what can be deducte… read more
Stephen G.
Stephen G.
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Bachelor's Degree
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My husband and I went through a divorce. I was on the deed
My husband and I went through a divorce. I was on the deed but not the mortgage. We had a capital gain. He was sent a 1099 saying the sale was reported under his SSN. Do I owe half of the capital gain… read more
Stephen G.
Stephen G.
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Bachelor's Degree
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Ok, in penny, in pound. My new wife bought a house in CA
Ok, in for a penny, in for a pound. My new wife bought a house in CA many years ago for $15,000 (that is not a typo), and years later did a tax-free exchange with a house in GA. The California house w… read more
Lev
Lev
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Bachelor's Degree Equivalent
41,554 satisfied customers
I bought a house in Jan 1968 $ and sold it onAug 30, 1969
I bought a house in Jan 1968 for 20318$ and sold it onAug 30, 1969 for 22,400$, for an unadjusted gain of 2082$ I lived in the home less than 2 yrs. I then bought a more expensive home for 40000 on Fe… read more
Stephen G.
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I am selling a house. I am wondering if I will be paying
I am selling a house. I am wondering if I will be paying more tax than what I had expected. The buyer and I entered a contract which states a higher purchase price than what we actually agreed, and we… read more
Angie
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A married couple want to sell their primary home, how many
A married couple want to sell their primary home, how many years they have to live there in order to deduct the exclusion of $500,000? How should they calculate the capital gain? Can they deduct the d… read more
Barbara
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struggling between schedule C and SE for real estate. I have 4 properties. 1 that we lived
struggling between schedule C and SE for real estate. I have 4 properties. 1 that we lived in from 1990 20 2012 and was rented in 2012-2013. Renters moved out Jan 1, 2014 and left us a mess! We repair… read more
Stephen G.
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I currently own two home. One which I live in and one in which
I currently own two home. One which I live in and one in which I stay a couple of times a month for a few days. I am also building a new home that will be my residence when finished. I am spending a l… read more
Stephen G.
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Short Sale: Mortgage Forgiveness Debt Relief Act: Northern
Short Sale: Mortgage Forgiveness Debt Relief Act: Northern CA Two Questions: (1) What step in selling process considered as the close date for Debt Relief Act. -- I am approved for short sale and escr… read more
Lev
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Since March of 2011, I am under contract to sell my primary
Since March of 2011, I am under contract to sell my primary residence in state of Washington with escrow to close April 2013. I will profit about 500K from the sale. (250K is then exempt from capital … read more
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