Capital Gains and Losses

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My mom transferred her home deed to me past 15years ago. Now
Hi, my mom transferred her home deed to me past 15years ago. Now I want to sell this 2nd home values $550k but will paying 24% in capital gains taxes(federal and Oregon) at $110k cost. Can I avoid thi… read more
Lev
Lev
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Bachelor's Degree Equivalent
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Can you rollover a capital gain on a vacation property into
Can you rollover a capital gain on a vacation property into a reverse mortgage on your primary home without paying capital gains tax to IRS? … read more
Barbara
Barbara
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I bought my townhouse for $93,000 40 years ago. I think I
I bought my townhouse for $93,000 40 years ago. I think I can sell my house for $1,500,000 less 5% sales commission. I've made about 20,000 improvements. Although I had to pay $60,000 in HOA Special A… read more
Lev
Lev
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If I lived in a home for 8 years, rented it for 2 then moved
If I lived in a home for 8 years, rented it for 2 then moved back in for 2 then rented it again for 9 years, would I owe any taxes if I moved back in for 2 or more years? I have taken 300K in deprecia… read more
Lev
Lev
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Two part question. !) I own two rental properties in
Two part question. !) I own two rental properties in California. One is a house that I have had for 20 years with a mortgage and the other a condo held for 4 years. If I sell the condo, can I take the… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
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Is there a way around paying capital gains on a house that
Is there a way around paying capital gains on a house that you own but has not been your primary residence in two of the last five years. I rent it to a relative for cost. Not making anything but if I… read more
Stephen G.
Stephen G.
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In California, there used to be a one-time "dump" of capitol
In California, there used to be a one-time "dump" of capitol gains on the sale of your primary residence if you were 55 or over, and met certain conditions. Is this still in place? If so, what are the… read more
emc011075
emc011075
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Does a married couple get a one time exemption for capital
does a married couple get a one time exemption for capital gains for investment property. Can they deduct off the gain any money spent on the rental over the period of them owing it? We were told we g… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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My husband and myself just sold a property that was
my husband and myself just sold a property that was currently a rental. We did live in the home before if became a rental which was over 5 years ago. We did not claim any rental income as a family mem… read more
Mark Taylor
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If I sell a cabin that I have used but not lived in do I
if I sell a cabin that I have used but not lived in do I have to pay income tax if I pay my home mortgage with the money?… read more
Lane
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I sold my principal residence in 2005 and took the $500,000
I sold my principal residence in 2005 and took the $500,000 exclusion from sale of principal residence. Fast forward to 2015 and I have a residence valued at $300,000 for which I paid cash. Now I want… read more
jgordosea
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I am going to sell my primary residence, and I believe I
I am going to sell my primary residence, and I believe I will have about $225 equity when I sell. I have lived in this property for four years. If I use that money as a downpayment on a new primary re… read more
Stephen G.
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I own a rental house, Camino Del Cielo, that we purchased as
I own a rental house, Camino Del Cielo, that we purchased as a primary residence in 1997 for $178k. In 2004 we refinanced with an equity line instead of a regular mortgage that ex husband put on the p… read more
taxmanrog
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I have a rental home that has been a money pit for several
I have a rental home that has been a money pit for several years now, but have not been able to afford to sell it due to the decrease in value. It is getting close to the of point where I think I migh… read more
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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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I have a reverse mortgage of Close to $400,000 on my home.
I have a reverse mortgage of Close to $400,000 on my home. Can I use that loan as an exchange to pay off my loan, which will then let me own my home?… read more
R. Klein, EA
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Taxpayer is 92 year old mother who doesnt have income to pay
Taxpayer is 92 year old mother who doesn't have income to pay high property taxes on lake front home purchased 50 years ago. Only option seems to be high cost reverse mortgage despite short life expec… read more
R. Klein, EA
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I hold a 25 year first mortgage on property I sold 5 years
I hold a 25 year first mortgage on property I sold 5 years ago. The remaining amount owing on the mortgage principal and interest is $1,613,842., at the end of next 20 years. If I sell this mortgage f… read more
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