Capital Gains and Losses

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A real estate S Corp buys 2 properties, rehabs and sells
A real estate S Corp buys 2 properties, rehabs and sells them for a profit. Do shareholders pay taxes on capital gains if the S Corp owes them money from loans or can the loan repayment reduce the cap… read more
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We are planning to do a 1031 exchange of a real estate
We are planning to do a 1031 exchange of a real estate property within an S Corp. One of the reasons we're doing the exchange is to take advantage of the step-up in tax basis in the event of the owner… read more
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I have large capital losses for stocks on my taxes which I
I have large capital losses for stocks on my taxes which I was writing off 3000 per year which will continue for years to come. With Trumps new 12000 maximum deduction, the write off does not save me … read more
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S corporation loans an unrelated party money secured by a
S corporation loans an unrelated party money secured by a promissory note. Borrower defaults and s corp determines note is uncollectible. S corp writes of debt. Does this pass through K1 as ordinary l… read more
levr-tax-gain
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Why would have taxpayer have a term capital gain when his S
Why would have taxpayer have a long term capital gain when his S corp repay loan to him. The business have a loss see attach K-1 but there is sufficient loan to cover the loss. Why would he need to pa… read more
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IS there a way to offset capital gains taxes from a business
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With closing a business that was active for 20 years,
With closing a business that was active for 20 years, recently closed with a total long-term capital losses of . The questions is, can a person sell stocks that will bring a short and/or long term PRO… read more
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Taxes paid on a shortsale difference? i will be helping a
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emc011075
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The s corp has the following losses: 2006.......12000 loss 2007......15000
The s corp has the following losses: 2006.......12000 loss 2007......15000 loss 2008.......23000 loss 2009......5600 profit 2010......45000 loss 2011.....23000 loss 2012......3200 profit 2013......120… read more
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Let's say I get a Schedule K-1 from my S corporation (
Let's say I get a Schedule K-1 from my S corporation (for form 1120S) with an amount listed in box 16 (code E, loan repayments). Due to my depleted debt basis, I am required to report some of this amo… read more
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I created a C-corp in December 2013. I am late on my taxes
I created a C-corp in December 2013. I am late on my taxes this year. The corp paid no salaries or wages, but lost about $20k during 2014. I'm thinking of closing it down this year (2015) or in early … read more
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I have questions about costs associated with converting from
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In Maryland, USA, you can file a single owner LLC tax return
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If I have a capital loss accumulated from prior years and qualify
If I have a capital loss accumulated from prior years and qualify for zero capital gain tax will my capital loss credit still be used to offset the capital gain?… read more
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I made a $140,000 loan to a start up company 4 years ago when
I made a $140,000 loan to a start up company 4 years ago when i was tax resident in ireland. I moved to the US 3 years ago. The company will soon cease operations and i need to account for my loan. Ca… read more
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What is the capital gain or loss under these circumstances:
What is the capital gain or loss under these circumstances: Orig. Cost of Condo was $220,000, Bank reduced debt from $195,000 to $7,000 (settlement), estimated depreciation $58,000? Using a 25% ordina… read more
R. Klein, EA
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If a commercial real estate property is foreclosed on with
If a commercial real estate property is foreclosed on with a non recourse loan,and the lender does not provide a 1099 for the difference between the loan and and the foreclosure price, what are the ta… read more
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