Capital Gains and Losses

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This is a complicated question. I file a Trust return and a
Hi. This is a complicated question. I file a Trust return and a Personal tax return. The Trust is a flow through entity, so money generated by the Trust is not taxed. In 2020 one of the holdings of th… read more
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Splitting sales of mom's house with family. How do I or we
Splitting sales of mom's house with family. How do I or we file capital gains … read more
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Question about 1099 for real estate sold in a trust. How
Question about 1099 for real estate sold in a trust. How taxes work and what IRS forms are required… read more
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Lane
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My question is what happens if you have an irrevocable trust
My question is what happens if you have an irrevocable trust with no discretion to give income or principal to the Grantor. But the accountant prepares a tax return\ every year placing all of the inco… read more
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Use of exclusion for sale of principal residence when the
use of exclusion for sale of principal residence when the residence is owned by a trust … read more
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Is a distribution or monies received as a trustee of a
Is a distribution or monies received as a trustee of a Revocable trust liable for tax personally to the trustee or does the tax burden stop with the trust itself? also, if tax returns have not been fi… read more
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I'd like some help understanding IF, in a Living Trust the
I'd like some help understanding IF, in a Living Trust the Proceeds from the Sale of a Home ie (Capital Gains) to the Beneficiaries is a Reportable/Taxable event? … read more
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Do the assets inside a personal holding company or a family
Do the assets inside a personal holding company or a family limited partnership, owned 100% and 65.35% respectively by a grantor trust, receive a step-up in basis at the date of death of the grantor? … read more
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What does Capital Gains of a piece of real estate look like
What does Capital Gains of a piece of real estate look like when the property is transferred out of a trust?A property was placed in a revocable trust in 1996 with an approximate value of $350,000 and… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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If you sell stocks purpose of investing in gold and silver
if you sell stocks for the purpose of investing in gold and silver do you have to pay capital gains tax when these stocks are from a Trust?… read more
Lane
Lane
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In Calif. what can be deducted from sale of parents home to
In Calif. what can be deducted from sale of parents home to lower capital gain taxes? Also what is the best or less expensive way to report capital gains. proceeds will be shared by 6 siblings. On the… read more
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Lane
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I had unvested company stock from my company that when company
I had unvested company stock from my company that when company merger occurred in November which forced mandatory sale and looks like repurchase with new company. I am seeing a long term gain for one … read more
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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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Can you transfer a long term capital loss carryover that was
can you transfer a long term capital loss carryover that was generated in a revocable trust when the grantor (trustee) dies to their final fiduciary return and then distribute to the beneficiaries? Fi… read more
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I am the trustee of my sisters Texas trust. She recently passed
I am the trustee of my sisters Texas trust. She recently passed away. If I sold her investments, which have been invested since 2008, would her trust have to pay capital gains taxes from the beginning… read more
Stephen G.
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Our minor son has a grantor trust. My wife is the Trustee.
Our minor son has a grantor trust. My wife is the Trustee. We live in Florida. If there is a tax obligation I know the Trust needs to file a 1041. If there are payments made by the Trust, the payments… read more
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If the proceeds of the liquidation of an LLC is dispensed
if the proceeds of the liquidation of an LLC is dispensed via an grantor trust, to four individual personal trusts, do the personal trusts file their own tax returns? if so, if the capital gains is 20… read more
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My Father passed away in mid-2014 in California. I am the
My Father passed away in mid-2014 in California. I am the executor of his estate as well as a Co-Trustee (equally with my two brothers) of his Family Trust. My question surrounds the capital gains tre… read more
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