Capital Gains and Losses

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Related Capital Gains and Losses Questions
When a divorce takes place. Let's say the marital home is
Hello, when a divorce takes place. Let's say the marital home is sold. The proceeds from that have to be reinvested into another home right away, or is there a time that we are allowed before being ta… read more
bkb1956
bkb1956
Enrolled Agent/Real Estate & Corporate Paralegal
24,500 satisfied customers
I am looking at wanting to buy a piece of property as my
Hello, I am looking at wanting to buy a piece of property as my personal residence. This property price is approximately 150,000 less than the house I would like to sell to buy the new one. The house … read more
JeffS6413
JeffS6413
Principal/Advisor
Master's Degree
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I owner occupy a legal 2 family. I am no longer renting the
I owner occupy a legal 2 family. I am no longer renting the other unit, but did for many years and claimed expenses and depreciation on it. Now I have converted it to my own private use for the entire… read more
bkb1956
bkb1956
Enrolled Agent/Real Estate & Corporate Paralegal
24,500 satisfied customers
If I live in a property exactly for 2 years or more and I
If I live in a property exactly for 2 years or more and I sell it at the end of it, am I exempt for the Capital Gains Tax for private resident relief? This is my main residence and its the address in … read more
bkb1956
bkb1956
Enrolled Agent/Real Estate & Corporate Paralegal
24,500 satisfied customers
In the case of a home buyout between an unmarried couple,
In the case of a home buyout between an unmarried couple, would the selling party pay capital gains on the money received as part of the settlement? … read more
ALEX O
ALEX O
Partner O & G Tax
Master's Degree
5,588 satisfied customers
My wife and I are selling our house that we lived in almost
Hello, my wife and I are selling our house that we lived in almost 5yrs ago. We kept it until the real estate market came back. During that time I can claim I lived in it for 2 out of the 5 yrs while … read more
bkb1956
bkb1956
Enrolled Agent/Real Estate & Corporate Paralegal
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How many years can I rent my owned house before capital
How many years can I rent my owned house before capital gains? If I sell after that how much % tax I need to pay on capital gains?… read more
bkb1956
bkb1956
Enrolled Agent/Real Estate & Corporate Paralegal
24,500 satisfied customers
My wife and I are selling our home in SC and will purchase a
My wife and I are selling our home in SC and will purchase a new home in Washington State. The current home has been our primary residence for over 3 years. I anticipate the 'proceeds' from the sale o… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
I had a home that I bought in circa 1984. I converted the
I had a home that I bought in circa 1984. I converted the home to rental property in 2003. I sold this home in 2018. Additionally, I had a home that I sold last year. I used the proceeds of both house… read more
bkb1956
bkb1956
Enrolled Agent/Real Estate & Corporate Paralegal
24,500 satisfied customers
A card holder is selling an apartment he owned in a foreign
Hi! a green card holder is selling an apartment he owned in a foreign country and according to the law in that country, he doesn't owe a tax on the sale. what happens with the sale gain on the US Tax … read more
bkb1956
bkb1956
Enrolled Agent/Real Estate & Corporate Paralegal
24,500 satisfied customers
Selling our primary residence...lived there for over 40
selling our primary residence...lived there for over 40 years- … read more
bkb1956
bkb1956
Enrolled Agent/Real Estate & Corporate Paralegal
24,500 satisfied customers
I have a property that I rented out years. I lived in it
Hi, I have a property that I rented out for 3 years. I lived in it since 1995. Now I want sell it. How does capital gains effect me?… read more
Alexander Haraczka
Alexander Haraczka
Bachelor's
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Re Rental Property/sale of residence. I bought a 2nd house
Re Rental Property/sale of residence. I bought a 2nd house in1985 for $35K. I rented the house for 20+ years and took depreciation deduction of $28K through 2003. I have not rented it for the past 4 y… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,775 satisfied customers
I know if I sell my current home I 't pay capital gains
I know if I sell my current home I don't pay capital gains up to 500,000 since I file jointly with my wife. Does this rule change at all in the following situation? We found a house that we want to bu… read more
JKCPA
JKCPA
Certified Public Accountant (CPA)
Bachelor's Degree
1,796 satisfied customers
We purchased our primary home 19 months ago and have to
We purchased our primary home 19 months ago and have to move. In 2014 on my taxes I was exempt from capital gain. Will I be exempt from capital gain if I list the sale on my taxes in 2015? Also does m… read more
Tax.appeal.168
Tax.appeal.168
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8,188 satisfied customers
We purchased our current home in 2004 thru a starker like exchange
We purchased our current home in 2004 thru a starker like exchange from a home we purchased in 1978. It was rented out from 2004 until 2012 when we moved into it and made it our primary residence. My … read more
Tax.appeal.168
Tax.appeal.168
Principal
8,188 satisfied customers
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.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,775 satisfied customers
my wife and i own a manhattan coop that has quintupled in value
my wife and i own a manhattan coop that has quintupled in value since we bought it in 1987. we are seeking ways of minimizing or avoiding capital gains tax should we decide to sell. our guess is a cap… read more
R. Klein, EA
R. Klein, EA
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