Capital Gains and Losses

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I sold my house in February this year with $380k capital
I sold my house in February this year with $380k capital gain. As a single person i have a $250k allowance, which I have calculated to be only $150k due to the fact i used $100k to write of capital ga… read more
emc011075
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Planning to sell house in trust (irrevocable) that my mother left for me and my brother. If we sell it, what kind of taxes do we pay? Capital gains on the trust? And if so, how is it calculated? House… read more
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My brother and I received my mothers property in Wy when she
My brother and I received my mothers property in Jackson Wy when she past away. The property is in a irrevocable trust with my brother inherited 2/3 and i have 1/3. I live on the property for the past… read more
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I have filed tax married jointly, Has Adjusted gross Income
Hello, I have filed tax married jointly , Has Adjusted gross Income of 97000K, If I sell a house within 9 Months After the purchase in the profit of 95 K, How much Capital gain I need to pay, is their… read more
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We are wondering how my parents will be taxed on the sale of
We are wondering how my parents will be taxed on the sale of their two houses. They plan to use the proceeds from 1 house to buy another and plan to give the proceeds from the 2nd house to their kids.… read more
Lev
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Under the Biden tax plan if I bought a property 30 years ago
Under the Biden tax plan if I bought a property 30 years ago for $100k and I make $100k/year and I now sell that property for $1M, the capital gains is added to my income putting me in the 39.6% tax b… read more
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We have long term capital tax exposure this year of up to
We have long term capital tax exposure this year of up to $100,000 if I sell now. Our taxable income for this year should be $45,000. We are 70 yo. Can the 0% tax on the sale of stocks apply if so how… read more
NelsonProTax
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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
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My wife lives in Maryland. She inherited, along with her
My wife lives in Maryland. She inherited, along with her brother, her mothers home in Watertown, Mass. in 2014. At the time the house was valued at $299,700. They plan to sell the house to their broth… read more
Stephen G.
Stephen G.
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My mom put her house in mine and my sister's name several
My mom put her house in mine and my sister's name several years ago, (so it is gifted?) we have just sold her house and I am selling my house, and are presently building a duplex condo in a over 55 co… read more
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I have a real estate property that I'm looking to use to
i have a real estate property that I'm looking to use to form a lcc with my mother (currently a rental property, she intends to live there and pay off the remaining mortgage of $140k, house appraised … read more
emc011075
emc011075
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I inherited my parents house which I live in I need to sell
I inherited my parents house which I live in I need to sell it because of medical reasons but the house just came in my name in the month of February 2017 do I still have to pay capital Games Tax if I… read more
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My parents bought a house 50 years ago for 30k...I inherited
My parents bought a house 50 years ago for 30k...I inherited it upon their death 30 years ago...it's value at that time was 200k It is now valued at approximately700k. I am a single, 65 year old disab… read more
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We are in Anoka, MN. We have 3.5 acres and plan on selling
We are in Anoka, MN. We have 3.5 acres and plan on selling approx. an acre. My husband originally bought a 1/2 acre from his father. When his father passed, he was willed approximately another acre. T… read more
emc011075
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I am 70 years old and have held title to my Mother's home in
I am 70 years old and have held title to my Mother's home in my name only . 15 years. I live in Arkansas & the house is located here also. Prior to that my brothers (2) and I had joint ownership. They… read more
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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
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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
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