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
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
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
7,019 satisfied customers
We sold our overseas property and it was our primary
We sold our overseas property and it was our primary residence when we moved to USA. We moved to USA in 2014 and we bought ourhouse in Texas in 2018 . We sold our condo in Turkey this year … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
7,019 satisfied customers
1. What do you need to do to establish primary residency for
1. What do you need to do to establish primary residency for CA? 2. How long does the CA residency need to be before selling a home? 3. How can we avoid capital gains when the home is eventually sold … read more
Barbara
Barbara
Enrolled Agent, Paralegal
22,001 satisfied customers
My wife passed away this reR. I sold our primary residence
My wife passed away this reR . I sold our primary residence and took the proceeds to be off the mortgage on a vacation condo which we owned and is now my only residence .what are the tax impacts ? … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
7,019 satisfied customers
I have sold a vacation home on siesta key in Florida in
I have sold a vacation home on siesta key in Florida in 2018. What deductions am I permitted to claim against the capital gains on the property. I owned the property for 20 years. I purchased it with … read more
Barbara
Barbara
Enrolled Agent, Paralegal
22,001 satisfied customers
My husband and I bought a primary residence house in Sept.
My husband and I bought a primary residence house in Sept. 2016 and sold our previous primary residence house in Jan. 2017. We took the Capital Gains tax exemption on the house we sold. We are in the … read more
Barbara
Barbara
Enrolled Agent, Paralegal
22,001 satisfied customers
We bought a condo in CA, lived in it for 19 months. Didn't
We bought a condo in CA, lived in it for 19 months. Didn't like it and sold it ($310k purchase - $390,000 sale). Will we need to pay capital gains since we didn't live there 2 full years? … read more
Robin D.
Robin D.
Vocational, Technical or Trade School
24,170 satisfied customers
We purchased a home in SC on 10/04/2006, purchase price
we purchased a home in SC on 10/04/2006, purchase price $185000, On 04/01/2011, we moved to NC, and rented out our SC home. The basis at that time was 113,000 for the house and 27000 for the land. It … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,611 satisfied customers
Does capital gains tax has to be paid if you are the owner
Does capital gains tax has to be paid if you are the owner of a rental property and you move in yourself after 30 years. We paid $105,000 and it is assessed at $1,320,000.00. We have 3 houses includin… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
1,069 satisfied customers
This (hopefully) isn't too long & complicated. Here
Hello, This (hopefully) isn't too long & complicated. Here goes: 6/2008 I buy a house for 190K (with agreement to seller if I move to sell back to him.) I make monthly payments on a promissory note fo… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,916 satisfied customers
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.
Sr Financial & Tax Consultant
Bachelor's Degree
8,916 satisfied customers
Selling house which was a rental. We moved in May 1st 2014
Selling house which was a rental. We moved in May 1st 2014 however our other house which was the Primary house closed escrow May 9th 2014. Do we have to stay here until May 1 2016 or May 9 2016 to avo… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,916 satisfied customers
We sold our home, lived in years. we bought this house in
we sold our home, lived in for 42 years. we bought this house in 1973 for 51,000 and sold it for 180, 000. We then bought a home for 146,000. it is the last home sale we will make. My wife and I are b… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,476 satisfied customers
If a house is sold in IOWA by 5 siblings jointly - does capital
If a house is sold in IOWA by 5 siblings jointly - does capital gains reported on the amount they each received from the sale and is it then reported on 2105 taxes or paid immediately?… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
I am currently living overseas and have a house in Maryland.
I am currently living overseas and have a house in Maryland. The house will have been rented for two years as of January 2014. My wife plans on returning to the US in March 2015. This means the house … read more
Barbara
Barbara
Enrolled Agent, Paralegal
22,001 satisfied customers
in 2011 2012 tax year i sold house 111 k but bought 162 loose
in 2011 2012 tax year i sold house 111 k but bought 162 loose 51 k i had 2 houses rented this out for income. this tax year 2012 2013 i have sold buisness gained 57 k would i get relief from this gain… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I am a part year California resident. I moved to Nevada on
I am a part year California resident. I moved to Nevada on Sept 4, 2011. I sold stock in 2011 before my move date, while in California, for capital gains of around $125K. I also sold additional stock … read more
Arthur Rubin
Arthur Rubin
Tax Preparer
Doctoral Degree
86 satisfied customers
In 1994 I bought a condo in CA and lived in it for 11 years.
In 1994 I bought a condo in CA and lived in it for 11 years. I was relocated to WA for work and begun renting it in 2005 - present. In 2006 I purchased another condo in WA and lived in it for 2 years … read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
3,161 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

3,161 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