Capital Gains and Losses

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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
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The daughter is a trustee U/W of her father. Daughter
Hi Barbara. The daughter is a trustee U/W of her father. Daughter recieved a 1099-B. The mom subsequent passes away and she is executrix of her mom's estate. The daughter also receives a 1099-B from t… read more
Barbara
Barbara
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Is a distribution or monies received as a trustee of a
Is a distribution or monies received as a trustee of a Revocable trust liable for tax personally to the trustee or does the tax burden stop with the trust itself? also, if tax returns have not been fi… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
19,541 satisfied customers
Irrevocable trust - final return - trust sold a house and
irrevocable trust - final return - trust sold a house and sold brokerage account - proceeds were distributed to 3 beneficiaries - this there was a gain on the house - in what box on the k1 would the g… read more
Lev
Lev
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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
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I am over 60. Upon termination from my emlployer I have
I am over 60. Upon termination from my emlployer I have received a substantial NUA which I invested into brokerage account after paying taxes on the basis. I understand that NUA stocks do not receive … read more
Lane
Lane
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I'm considering trading stocks and realize that short term
i'm considering trading stocks and realize that short term profits are subject to ordinary tax and state tax. My question is: does every single trade, buy and sell have to be listed individually on my… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,168 satisfied customers
My dad had put the house he owned into a trust. He did this
My dad had put the house he owned into a trust. He did this while still alive. He has since passed. The house was sold after he passed away. It sold for $135,000.00 in the state of CT. It was original… read more
Lev
Lev
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Bachelor's Degree Equivalent
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Stocks were transferred from one person account to the other
Stocks were transferred from one person account to the other person account. Can a person to whom the stocks were transferred then sell these stocks immediatly upon transfer and claim capital gain to … read more
Lev
Lev
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What does Capital Gains of a piece of real estate look like
What does Capital Gains of a piece of real estate look like when the property is transferred out of a trust?A property was placed in a revocable trust in 1996 with an approximate value of $350,000 and… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
19,541 satisfied customers
Shares of Pepco stock were passed on to my father back in
Shares of Pepco stock were passed on to my father back in the 1970's by his mother who inherited from his father. Stock was subsequently put into a living trust (my parents). Upon father's death, stoc… read more
Robin D.
Robin D.
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I inherited a GST-exempt Trust in June 2008 when my mother
I inherited a GST-exempt Trust in June 2008 when my mother passed away. There is a house in the trust that was partly owned by my mother and partly owned by myself and my husband. When my mother passe… read more
Lev
Lev
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Bachelor's Degree Equivalent
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The maker of a living revocable trust has passed. the
hello, the maker of a living revocable trust has passed. the beneficiaries, two children, are ready to split the trust into two individual trusts, a nontaxable event, as described by the financial adv… read more
Lev
Lev
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I need help reporting my incentive stock options My w-2
I need help reporting my incentive stock options My w-2 income reflects my gain and I also have to enter on capital gains I think... ? I don't want to be double taxed. Please help… read more
R. Klein, EA
R. Klein, EA
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To Lane, JD,CFP,MBA. Lane, My accountant is out of town.I
To Lane, JD,CFP,MBA. Hi Lane, My accountant is out of town.I need to transfer all of the income from one of my trusts to my personal bank account to eliminate any tax liability for the trust.I was not… read more
Lane
Lane
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Im assisting my Mother in Law with a past tax issue. I dont
I'm assisting my Mother in Law with a past tax issue. I don't have many original documents but I do have the Wage and Income Transcripts. She has several 1099 B Forms where the "Recipient Indicator" s… read more
PhillipB EA
PhillipB EA
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My Father owned two stocks. He held those stocks in a Living
My Father owned two stocks. He held those stocks in a Living Trust. He died in 2013. When he received dividends on those stocks he reported them on his personal tax return under his social security nu… read more
Arthur Rubin
Arthur Rubin
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Doctoral Degree
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I wanted to clarify if I have to calculate and pay capital
I wanted to clarify if I have to calculate and pay capital gains taxes (on my mom's behalf). My parents held a living trust until my dad's passing in October 2010. In 2011, we split the assets of the … read more
R. Klein, EA
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