Capital Gains and Losses

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We are Looking at purchasing a property for $155,000 and we
Hi there. We are Looking at purchasing a property for $155,000 and we are selling another property for $197,000 will this allow us to use capital gains and not pay a penalty? … read more
emc011075
emc011075
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Bachelor's Degree
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Second opinion] I sold my second house which I lived 6
Second opinion] I sold my second house which I lived 6 months per year for 22 years. What will be my capital gain if I made $100K profit… read more
emc011075
emc011075
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From in Zephyrhills. Am canadian citizen...purchased mobile
Am canadian citizen...purchased mobile home in Zephyrhills park 15 years ago and spend November to April there.. Looking for sell and in the next few years and return to Canada. Am I required to pay capital gains...and how is this calculated? Thanks … read more
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Lev
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My name was not on the deed if my marital home pitched in
My name was not on the deed if my marital home pitched in 1992. The home was transferred and deeded to me in my divorce in NYC in 2011. Is capital gains calculated from the time of purchase in 1999 or… read more
emc011075
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My friend moved to AZ and purchased a home. He titled the
My friend moved to AZ and purchased a home. He titled the home in his and my name. (wanted me to have in case of his death). My primary residence is in PA. I "snowbird" in home 3 months in winter. 18 … read more
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This questions is for a Canadian Accountant or Tax attorney
This questions is for a Canadian Accountant or Tax attorney - I am a Canadian Citizen but reside in the U.S. and file my taxes in the U.S. as a resident alien. I have no Canadian income and have not l… read more
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Could I confirm that if a US resident transfers the house
Could I confirm that if a US resident transfers the house (jointly owning) to his spouse (non resident alien), no capital gain or loss needs to be reported, correct? I checked pub523. It simply says t… read more
Lane
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Client is a resident of Canada. Lived in a home in Hawaii as
Client is a resident of Canada. Lived in a home in Hawaii as primary residence 7-8 months per year. Visited family in Canada during summer months. Lived in Hawaii home since 1988. Retained Canadian ci… read more
TaxRobin
TaxRobin
Tax Preparer
Vocational, Technical or Trade School
30,743 satisfied customers
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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If a non-Canadian non-resident (a foreigner) buys and sells
If a non-Canadian non-resident (a foreigner) buys and sells stocks using an account at a Canadian brokerage firm, and a capital gain results on sale, does the foreigner owe any capital gains tax in Ca… read more
Dr. Fiona Chen
Dr. Fiona Chen
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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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President
Ph.D.
9,894 satisfied customers
We purchased a home in SC on 10/04/2006, purchase price
we purchased a home in SC on 10/04/2006, purchase price $185000, On 04/01/2011, we moved to NC, and rented out our SC home. The basis at that time was 113,000 for the house and 27000 for the land. It … read more
Lane
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I do not own a main residence and live in a rental property.
I do not own a main residence and live in a rental property. I do own a condo that I use during the winter on the weekends. I do not rent it out. If I sell it to purchase a bigger condo in the same bu… read more
Stephen G.
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Bachelor's Degree
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Years ago, sold primary resident. Shortly after, paid cash
Years ago, sold primary resident. Shortly after, paid cash for small house ($280,000). Used house as rental shortly after purchase. Few years later, divorced. I got small house (rental) and financed $… read more
Lev
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I am an retiree, and am have a rental house and planning to
I am an retiree, and am have a rental house and planning to sell the house to move to another country, do I have to pay any capital gain on the house after I sold it?… read more
PhillipB EA
PhillipB EA
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I have been in the US for 5+ years. If I am a canadian citizen
I have been in the US for 5+ years. If I am a canadian citizen and I return to canada in say march and I stay in canada, how do I do my taxes for my capital gain income in jan-feb? Based on what I see… read more
jgordosea
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I am a Canadian and I have lived in the US with my wife for
I am a Canadian and I have lived in the US with my wife for 4 years. I am currently a green card holder. When we came to the US we owned a property in Edmonton, Canada. Shortly after coming, we purcha… read more
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According to the law I need to have lived in a house for 2
According to the law I need to have lived in a house for 2 years in order to avoid paying capital gains taxes. I have lived in my house for 4 years but have only owned it for 1.5 years. My plan is to … read more
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jgordosea

jgordosea

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