Capital Gains and Losses

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Our Revocable Living Trust was granted a vacant parcel of
Our Revocable Living Trust was granted a vacant parcel of land, which being the remnant of our great grandfather's farm (in NC), became land-locked by other development and infrastructure. As the parc… read more
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My mother passed away. We sold her condo she paid 125,000 when she bought it 25 years ago. It sold for 350,000. It was in a trust. Will there be any capital gain tax to be paid or is it exempt as inhe… read more
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SECOND OPINION - My parent's home was an asset in their
SECOND OPINION - My parent's home was an asset in their Revocable Living Trust. They have now both passed away and as the Successor Trustee I sold the home in 2019. Did the cost basis of the home step… read more
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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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My Father in law died in June, he was end of treatment of
My Father in law died in June, he was end of treatment of leukemia and sold all his stocks a week before he died, in December my mother in law died. How do we handle these capital gains? money was nev… read more
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I converted my condo to a rental in 2010. The FMV was
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I sold my parents home in the UK this year, in which I held
I sold my parents home in the UK this year, in which I held a majority interest. I came to the US from the UK in 1984, initially renting my home in the UK. Renting did not work out well, and my parent… read more
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SOLD OFFICE BLG DEC 2016 ON 1031 EXCHANGE. BOUGHT TWO CONDOS
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I inherited a house when my mother passed away in 2012. The
I inherited a house when my mother passed away in 2012. The house sold in 2016 for less than the appraised fair market value in 2012 at the time my mother passed away. I want to take a capital loss on… read more
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My brother set up a Trust before he passed away in 2003 with
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I received money from the sale of my family home last year
I received money from the sale of my family home last year and want to know how to handle this. First of all, there was a trust that gave each of us three sisters an undivided ninth of the island. How… read more
Stephen G.
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My husband and I sold a vacant lot adjacent to our home in
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Before I married in 2014 I sold my home and didn't have to
Hi, before I married in 2014 I sold my home and didn't have to pay capital gains tax because the gain was less than $250,000. Now this year I am selling my share of a condo co owned with my sister tha… read more
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I purchased a 4 family house in Rochester, NY in 2003 and
I purchased a 4 family house in Rochester, NY in 2003 and paid 100,000 for it. The house is under a sale contract for 150,000 and will close in January 2016. I have put on a new roof for 7000 and adde… read more
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I am selling a rental real estate property and the closing will take place in January 2016. My profit will be approximately 100K. I have owned the property for 13 years and have taken the depreciation… read more
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