Capital Gains and Losses

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Related Capital Gains and Losses Questions
If someone buys a real estate for $150,000. 6 years later,
If someone buys a real estate for $150,000. 6 years later, they sell the property for 100,000.This would represent a $50k long term capital gains loss. How could they use this loss to their advantage?… read more
emc011075
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We have a four person LLC that only owns one commercial building. The building is fully depreciated. It is leased to a good tenant. The market value is about $800,000. The rent is $9,000 a month. The … read more
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
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I sold my home in 2018. It was my primary residence for the
I sold my home in 2018. It was my primary residence for the past 5 years. Prior to that, it was an investment property for approximately 14 years, during which time I took depreciation but wasn't able… read more
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I purchased shares an LLC in 2002 that held a commercial
I purchased shares an LLC in 2002 that held a commercial rental property. I then purchased the remaining shares in the LLC in 2011 and it became a single member LLC. I am considering selling the comme… read more
Lev
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I'm trying to plan out what would be the most tax advanteous
Hi, I'm trying to plan out what would be the most tax advanteous thing to do with my in-laws' home when they pass away. They purchased this home decades ago for about $25K and it's now worth about $50… read more
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IS there a way to offset capital gains taxes from a business loss on a K1. … read more
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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
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If we sell a home that we have been renting for less than
If we sell a home that we have been renting for less than the original purchase, is that considered a capital gains loss? And can we offset the loss against other capital gains and roll the excess for… read more
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We bought a house on the water in Maine in June 2008 for
We bought a house on the water in Maine in June 2008 for $810,000. In June 2009 we moved from it, and began renting it. For the 2009 tax return, I valued it at $843,227 (of which the building was only… read more
PhillipB EA
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I am selling a rental real estate property and the closing
I am selling a rental real estate property and the closing will take place in January 2016. My profit will be approximately 100K. I have owned the property for 13 years and have taken the depreciation… read more
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I have complex situation...i own llc (husband & wife only)
i have complex situation...i own llc (husband & wife only) that holds land and office buildings in canada with bunch of investors. For example the land parcel, there are 35 other investors with me. Pa… read more
Stephen G.
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We have been carrying a lot of capital loss from 2008 able
We have been carrying a lot of capital loss from 2008 able to deduct only $3K each year. I have a rental house (a duplex, which I don't live in) that I would like to sell to myself at its current (app… read more
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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
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I owned a vacation rental, reported the income, and never
I owned a vacation rental, reported the income, and never took a depreciation deduction as expenses exceeded the income. I have sold the vacation rental, and there is a question about the basis. It bo… read more
R. Klein, EA
R. Klein, EA
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I might sell a commercial building for $900,000.00 and I would
I might sell a commercial building for $900,000.00 and I would like to know what the capitol gains tax would be? My Dad left this building (3 units include 1 apt & 2 office units) to my 2 sisters and … read more
R. Klein, EA
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Hi there, I am a limited partner in an LLC which after a
Hi there, I am a limited partner in an LLC which after a 17 year hold is selling its asset, a multi-family apt building in Denver. The partnership CPA sent us a schedule which computes my net share of… read more
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I am trying to determine net profit on the sale of a commercial
I am trying to determine net profit on the sale of a commercial building with rental income that was held for 3 years. We are defining profit as income minus expenses, with income being the sales proc… read more
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