Capital Gains and Losses

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If my mother gifts me acreage is there some point where I
If my mother gifts me acreage is there some point where I wouldn't have to pay capital gains taxes if I sold the land? … read more
emc011075
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My 91 year old mother sold farm land in 2019 - for 96,400
My 91 year old mother sold farm land in 2019 - for 96,400 (father bought for 5400 in 1945). She did not receive a 1099S. And she has not filed since the 1990's - only had social security income. I hav… read more
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My mom has a life estate, setup about 5 and 1/2 years ago
Hello. My mom has a life estate, setup about 5 and 1/2 years ago with my brother as the remainderman. We have to sell the house and need to understand what the capital gains tax will be for bot her an… read more
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My mother, 94 yrs old, passed away on Monday. She sold her
My mother, 94 yrs old, passed away on Monday. She sold her house in April for $400k. She has no other income other than Social Security. She live in the house, her primary residence, for two of the la… read more
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I was a joint tenant in Maryland with mom. Mom lived in the
I was a joint tenant in Maryland with mom. Mom lived in the condo. Mom dies in 2013, brother lives in condo too dies in 2014. I sell condo in March 2017. How do I calculate capital gains? … read more
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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
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I live in Rhode Island and so did my 91 year old Mother. She
I live in Rhode Island and so did my 91 year old Mother. She just sold her home in May. My name as well as my brothers, sisters and of course my Mothers name was on the deed at the time of the sale. M… read more
emc011075
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Morning mother sold a piece of investment commercial
Morning mother sold a piece of investment commercial property in delaware that she and father owned for 35 years. Purchase price 35 years ago $35,000 sales price $600,000. Her tax rate will be 15%...h… read more
Robin D.
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In 2014 my mother put my name on her deed. My father was
In 2014 my mother put my name on her deed. My father was deceased, and I am her only child. She passed in Oct, 2016. We were in the process of selling the property and had it under contract at that ti… read more
Stephen G.
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My husband and I bought our house in 1978. He passed away in
My husband and I bought our house in 1978. He passed away in 2007. If I sold my house now, what would be the Capital Gain Tax I would have to pay?… read more
Dr. Fiona Chen
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My motherinlaw gave her 250,000 coop to her son and my wife
My motherinlaw gave her 250,000 coop to her son and my wife seven years ago.she had purchased the Coop in 1965. She continued to live in it until recently when she had to move to an assisted living fa… read more
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My wife and I bought a house in CA in 2002 for $1.45M, and
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My mom died in 2014. She had put her home in both my name and
My mom died in 2014. She had put her home in both my name and my sister's name. We have sold the house and will split the money from the sale. Will it be considered capital gain? If i purchase a home … read more
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I have to report a capital gain on the sale of my moms house,
I have to report a capital gain on the sale of my mom's house, which was quit-claimed over to me and my two siblings several years ago, which took place this past year (2013). I assume the "basis" on … read more
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What will be our, myself and 2 sisters Capital Gains Tax on
What will be our, myself and 2 sisters Capital Gains Tax on a 300 Acre farm that we will inherit and possibly sell in the future? The farm has been in the family since 1860.… read more
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my mother is selling her home my father died 5 years ago. together
my mother is selling her home my father died 5 years ago. together they paid 256,000 for it and the selling price will be 623,000 what will she have to pay in taxes. she is 85 and has retirment income… read more
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My father died 12 years ago and my mother had her house put
My father died 12 years ago and my mother had her house put in my and my sisters name with "lifetime rights". She died 2 years ago and we sold the house last year. From which date are the capital gain… read more
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My mother and I have owned a house jointly for 5 years. She is now in assisted living and has signed her half of ownership over to me. I plan on selling the house. Once sold, do I owe income tax?… read more
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