Capital Gains and Losses

Capital Gains Tax Questions? Ask a Tax Advisor for Answers ASAP

Connect one-on-one with {0} who will answer your question

Related Capital Gains and Losses Questions
We live in Winnipeg. My husband's father died in Nov 2020.
Hello.We live in Winnipeg. My husband's father died in Nov 2020. He left his house equally to my husband and his brother. We are considering buying the brother's half of the house, renovating, renting… read more
AndrewD914
AndrewD914
Client Services Professional
Bachelor's Degree
189 satisfied customers
I SOLD FARM PROPERTY 3 YEARS AGO AND AGREED TO CARRY A NOTE
I SOLD FARM PROPERTY 3 YEARS AGO AND AGREED TO CARRY A NOTE WITH A BALLOON PAYMENT DUE. THE BUYER OF MY PROPERTY CONVERTED THE PROPERTY INTO AN RV PARK WHERE SHE INVESTED AN ADDITIONAL $500,000.. SHE … read more
James Daloisio
James Daloisio
Attorney
Doctoral Degree
3,026 satisfied customers
I have investment rental property in florida. I am selling
I have investment rental property in florida. I am selling the property for a profit of about 40,000. I have owned the property for four years. My retirement income is approx. 70,000. Do I pay capital… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,898 satisfied customers
Lev, To expand on this topic -- you mentioned the term
Hi Lev,To expand on this topic -- you mentioned the term "disposed" with regards ***** ***** property, and according to this website: (https://www.canada.ca/en/revenue-agency/services/tax/individuals/… read more
levr-tax-gain
levr-tax-gain
Tax Advisor
Bachelor's Degree Equivalent
56,985 satisfied customers
I got married in oct 15. I owned a home prior to getting
I got married in oct 15. I owned a home prior to getting married. Shortly after getting married i rented out my house in May 16. During the time it was rented we bought a house in May 17. To be able t… read more
Barbara
Barbara
Enrolled Agent, Paralegal
21,295 satisfied customers
I have a serious capital gains question and don't trust my
I have a serious capital gains question and don't trust my local small town H and R Block people will know how to do this. Can you help me or direct me to a seasoned CPA? Thank you so much … read more
Barbara
Barbara
Enrolled Agent, Paralegal
21,295 satisfied customers
I have a rental property that was sold, and she netted
Hi I have a rental property that was sold, and she netted 43126.57, and when it asks for the total sales price, it doesn't give a place where you can put the deductions from the sales, and when I ente… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,227 satisfied customers
We bought our home in 2003 for $403,000. It is now likely
Hello. We bought our home in 2003 for $403,000. It is now likely able to sell for about $350,000. We owe $280,000 on the mortgage. If we sold this home now for the $350,000, which would give us $70,00… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
My wife and I sold our gas mineral rights for $50,000.00 3
My wife and I sold our gas mineral rights for $50,000.00 3 months ago. I have a 401K at work that I've contributed 22,141.03 into. I'm 60 yrs old and my wife also works. Is there anything else we can … read more
Barbara
Barbara
Enrolled Agent, Paralegal
21,295 satisfied customers
In the 80s, my father bought a large track of land and last
In the 80s, my father bought a large track of land and last year gave a portion of it to me and my husband. We estimate that portion to be worth about $120,000. He is a contractor and built us a house… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,227 satisfied customers
My Ex husband and I purchased rental house several years ago
Hello, My Ex husband and I purchased rental house several years ago for 145k. When the housing boom hit and the property went up in value a second mortgage was taken out. House is upside down now. Sin… read more
PDtax
PDtax
Owner
Master's Degree
6,526 satisfied customers
My husband and his first wife divorced 8 years ago. He bought
My husband and his first wife divorced 8 years ago. He bought her out of an investment property appraised at $265k that he had acquired before their marriage for @$90k. The two had refinanced during t… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,227 satisfied customers
My husband and I went through a divorce. I was on the deed
My husband and I went through a divorce. I was on the deed but not the mortgage. We had a capital gain. He was sent a 1099 saying the sale was reported under his SSN. Do I owe half of the capital gain… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,778 satisfied customers
We purchased our current home in 2004 thru a starker like
We purchased our current home in 2004 thru a starker like exchange (rental property to rental property). We moved into this house in 2012 as a primary residence. My husband and I filed taxes jointly a… read more
PhillipB EA
PhillipB EA
Accountant
Bachelor's Degree
130 satisfied customers
I am going to sell my primary residence, and I believe I
I am going to sell my primary residence, and I believe I will have about $225 equity when I sell. I have lived in this property for four years. If I use that money as a downpayment on a new primary re… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,778 satisfied customers
primary residence turned into a rental four years ago. Paid
primary residence turned into a rental four years ago. Paid 238000.00 in 2004. Sold today for 206000. Do I have to pay any capitol gains tax.… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,778 satisfied customers
Approximate facts:House A - 2-Family Rental Duplex purchased
Approximate facts: House A - 2-Family Rental Duplex purchased in 1995?originally for $67,000, refinanced once or twice and depreciated over years at either 50% or 100%. Originally, 1/2 owner occupied … read more
levr-tax-gain
levr-tax-gain
Tax Advisor
Bachelor's Degree Equivalent
56,985 satisfied customers
I was told that I needed to sell my fathers home no later
I was told that I needed to sell my father's home no later than 6 months after his date of death in order to avoid capitol gains tax ( my mother has long since deceased ). December 4th will be exactly… read more
S-Drouillard-CMA-MBA
S-Drouillard-CMA-MBA
Retired
Master's Degree
2 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

jgordosea

jgordosea

Enrolled Agent

173 satisfied customers

As an Enrolled Agent you can be ensured of my competence in income tax matters.

PhillipB EA

PhillipB EA

Accountant

130 satisfied customers

Enrolled Agent with 8 years experience in tax return preparation, representation, and taxpayer consultation

Arthur Rubin

Arthur Rubin

Tax Preparer

86 satisfied customers

Over 22 years of tax preparation experience.

Bill-the-CPA

Bill-the-CPA

Certified Public Accountant (CPA)

55 satisfied customers

Seasoned professional with over 15 years in public accounting. Income, sales and property tax. Also accounting/tax software.

FredStevens

FredStevens

Accountant

37 satisfied customers

Experienced in business, accounting and tax planning for individuals, small/medium sized businesses and non-profit organizations

Shane-CPA

Shane-CPA

CPA, PFS, CGMA

11 satisfied customers

Shane Northrop is a Certified Public Accountant, Personal Financial Specialist and a Chartered Global Management Accountant

R. Klein, EA

R. Klein, EA

Enrolled Agent

271 satisfied customers

Over 20 Years experience in resolving tough tax cases

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x