Capital Gains and Losses

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Related Capital Gains and Losses Questions
When a rental property is sold, you have to recapture the
when a rental property is sold, you have to recapture the depreciation at 25%. does this amount get added to the total capital gains value? for example to figure the capital gains tax due, do you take… read more
JeffS6413
JeffS6413
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Re: depreciation recapture. Residential rental real property
Re: depreciation recapture. Residential rental real property sold after being owned for 6 years. Before sale, septic system had to be repaired (failed septic tank was replaced), and the sale occurred … read more
Lev
Lev
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Bachelor's Degree Equivalent
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I sold one of my Rental Real Estate properties. I know I
I sold one of my Rental Real Estate properties. I know I need to report the capital gains on schedule D, however what happens to the unused depreciation?… read more
JeffS6413
JeffS6413
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If I sell a a commercial real estate building that i have
Hi, if I sell a a commercial real estate building that i have owned for years in a single member LLC, I thought I paid capital gains take of 20%. Today someone told me that amount that I took as depre… read more
Brian Michels
Brian Michels
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I am selling my building for 2,250,000. The original
I am selling my building for 2,250,000. The original investment was $1,200,000 twenty years ago. What will our capital gains tax be? I will earn around $300,000 in 2019. … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,353 satisfied customers
My wife and I bought a house in 2006, lived in it until
My wife and I bought a house in 2006, lived in it until 2009, could not sell because value dropped 90,000. Rented the house from 2009 - 2017. Tax preparer depreciated property 27.5 years 12,766 per ye… read more
Alexander Efros
Alexander Efros
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I bought an apartment for personal use in 2009. In 2014, I
Hello,I bought an apartment for personal use in 2009.In 2014, I started renting it out. I used the straight line method to depreciate the property while it was rented. (27.5 years)After renting it out… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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If I sell a small office building and had used straight line
If I sell a small office building and had used straight line depreciation is there any unrecaptured 1250 gain? Wouldn't all the profit be a 1231 gain at 15%? … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,353 satisfied customers
I inherited a business in 2007. The value was not changed
I inherited a business in 2007. The value was not changed and still shows the original cost on all tax filings. The assets were sold last year. An appraisal was completed in 2007. How can I get the va… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,563 satisfied customers
My husband and I have built a home to sell. It has taken us
My husband and I have built a home to sell. It has taken us two years to complete. Will our profit be long term capital gains or ordinary income? Can we deduct not only the cost to build, but also the… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
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My husband decided to sell our business property offering to
My husband decided to sell our business property offering to finance it ourselves over a ten year period. AFTER he made this promise he asked our accountant what the tax ramifications were. He was tol… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
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I may be part of an investment group that would buy a G5
I may be part of an investment group that would buy a G5 airplane and structure a lease to buy for the end buyer. In the end, the investment LLC would own the plane and from what I understand, if we o… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
3,161 satisfied customers
File Form 8949 or 4797? I sold a commercial building and need
File Form 8949 or 4797? I sold a commercial building and need to report that sale and small capital gain. Which form should I use? I owned a biz and used that bldg for my biz, closed retail shop and w… read more
Stephen G.
Stephen G.
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Bachelor's Degree
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A parent sold a commercial building which was held in an llc
a parent sold a commercial building which was held in an llc to their child. The parent purchased the property for 100k and sold it to the child several years later for 40k. in the time the parent own… read more
PhillipB EA
PhillipB EA
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Bachelor's Degree
130 satisfied customers
I sold I store last year and reinvested the money into a new
I sold I store last year and reinvested the money into a new house last year do I have to pay capital gains on the money I made above what we paid for the store since I reinvested back into a home… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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If all of the assets of a single member LLC are sold, I
If all of the assets of a single member LLC are sold, I realize the gain on sale is the difference between the selling price and the undepreciated basis of the assets, is that amount taxed at ordinary… read more
BK-CPA
BK-CPA
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I have a low-income housing project that I built and placed
I have a low-income housing project that I built and placed in service in 1982 with one other partner, no corporations or other entities are involved. The project was depreciated under a 15 year SL AC… read more
taxmanrog
taxmanrog
Master's Degree
2,202 satisfied customers
If I sell rental property how long do I have to reinvest the
If I sell rental property how long do I have to reinvest the money before I have to pay capital gains taxes? Also, what is the capital gains rate?… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
3,161 satisfied customers
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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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