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
I need financial advice. If I invest in Berkshire Hathaway
I need financial advice. If I invest in Berkshire Hathaway Class B stock for greater than a year, since they do not pay a dividend, do I only pay long term capital gain for federal taxes? I live in Fl… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
3,315 satisfied customers
We built a home mortgage free in which we invested $250,000.
We built a home mortgage free in which we invested $250,000. If we sell the home for $150,000 through a contract for deed with a monthly installment of $700 for two years, at which time the final paym… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
3,315 satisfied customers
I am trying to sell my business and real estate. I have a
I am trying to sell my business and real estate. I have a buyer and we are suppose to close tomorrow. I sold it for 705,000.00. I am owner financing it. The buyer is putting 45,000.00 down which pays … read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
356 satisfied customers
I need help with crypto-currency taxes and the steps I need
I need help with crypto-currency taxes and the steps I need to take right to best position myself.The profits I have made in CC have not all been from Bitcoin, they have come from many coins going bac… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,922 satisfied customers
If I sell the rental property where I never lived bought it
If I sell the rental property where I never lived bought it as an investment and sold after 2 years on which part of schedule should I show… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,922 satisfied customers
1. Client sold a (passive) investment partnership interest
1. Client sold a (passive) investment partnership interest for a $1MM+ gain (No issues re: “hot”/ord. assets, suspended losses, basis/at-risk). 2. Client also has rental real estate with over $1MM of … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,340 satisfied customers
I bought investment real estate in 2002 and sold it in 2015
I bought investment real estate in 2002 and sold it in 2015 at a $5,000 loss. The property was never rented. I claimed no income or expense during this time. What form do I report this on as the IRS r… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,646 satisfied customers
We represent an investor in real estate and we are trying to
We represent an investor in real estate and we are trying to develop a capital gains strategy. He is buying a residential lot, tearing down the existing house, and building a substantially larger hous… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,913 satisfied customers
1031 Partial Exchange Boot Received: Exchange property:
1031 Partial Exchange Boot Received: Exchange property: Original Purchased Price: $350,000. The entire depreciation of this house is $120,000 (for example). Sell price at $600,000, no mortgage. Partia… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,913 satisfied customers
We own a business in which I have one third partnership. we
We own a business in which I have one third partnership. we acquired it for 1.0 million. If we sell it 4.5 millions today how much capital gain I (one third partner) have to pay if my income is 150K a… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,913 satisfied customers
Can I sell an investment and get a term capital loss and
Can I sell an investment and get a long term capital loss and then buy it back again? I am one of 4 investors in a property which lost 90% of it's value. I want to sell but the other partners don't. M… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
I recently had an MLP purchased by its parent company and exchanged
I recently had an MLP purchased by its parent company and exchanged my shares for stock in the parent company. No shares were sold but I am being told I still have a capital gains tax liability... the… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,763 satisfied customers
This year I sold a property that I inherited several years
This year I sold a property that I inherited several years ago, and owe capital gains. I took the money and invested it the stock market this year, and had losses. Can the current year's losses be off… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,646 satisfied customers
In my case, is profit on sale of improved real estate a capital
In my case, is profit on sale of improved real estate a capital gain or ordinary income? I bought a lot for investment purposes and two months later decided to build a home on it for sale following co… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
263 satisfied customers
Im a real estate professional who has previously had real
I'm a real estate professional who has previously had real estate losses offset ordinary income. I am the sole beneficiary & trustee of my deceased mother's Trust. That trust owns a property with a ga… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 satisfied customers
I have long term capital losses.I also have significant cash
I have long term capital losses.I also have significant cash value in my life insurance polices that is significantly more than what I have put into the policy. Can I use my long term losses on my sto… read more
PhillipB EA
PhillipB EA
Accountant
Bachelor's Degree
130 satisfied customers
I sold stock in two companies and reinvested the same day in
I sold stock in two companies and reinvested the same day in two different companies. Do I owe capital gain taxes since I reinvested immediately.??… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
263 satisfied customers
I paid $10,000 5 years ago for my deeded time share unit. I
I paid $10,000 5 years ago for my deeded time share unit. I have tried to sell it, but no one will buy it. To get rid of it, I must pay a company $2,000.00 to take it off my hands. I bought this prope… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
3,197 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:

R. Klein, EA

R. Klein, EA

Enrolled Agent

263 satisfied customers

Over 20 Years experience in resolving tough tax cases

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

77 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

< 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