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
If I buy & sell a principal residence property, can I still
Hi, If I buy & sell a principal residence property, can I still deduct commission fees, etc from the net sale price? Also, if I end up with capital loss, can I deduct it from my income in that year? I… read more
jennifer jackson
jennifer jackson
CPA
BS
602 satisfied customers
I have an investment home. Every month I make an extra $300
I have an investment home. Every month I make an extra $300 payment towards principal in order to accelerate the loan repayment. Now I recently I discovered that when you sell investment home, you wil… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,680 satisfied customers
I am looking for information on what home improvements can
Hello I am looking for information on what home improvements can be a write-off when selling my home of 34 years. I already know my husband and I get 500k … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,240 satisfied customers
I have a question of what all can be added to the purchase
I have a question of what all can be added to the purchase price to lower the gains. purchase price plus: maintenance, , association dues, property tax utilities, special assessments this is a second … read more
Barbara
Barbara
Enrolled Agent, Paralegal
21,317 satisfied customers
My mother in law sold a property to my wife 9 years ago for
My mother in law sold a property to my wife 9 years ago for $1. We are now in process of selling said property, for $470k. Do we need to change the $1 sale paperwork to a higher amount or do we automa… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,558 satisfied customers
My mother sold my brother and I her house for $1.00 in
My mother sold my brother and I her house for $1.00 in (approximately) 1999 (we have a quitclaim deed). She continued to live in the house until she had to move into a nursing home in 2008. My brother… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
My 4 siblings and I inherited a home from our late mother in
Hello, my 4 siblings and I inherited a home from our late mother in 2017. … read more
Barbara
Barbara
Enrolled Agent, Paralegal
21,317 satisfied customers
We sold a house--not our main home--in which one of our
Second opinion] We sold a house--not our main home--in which one of our son'slived. He works for us, didn't pay rent--did renovate the house and we split most of the costs--anyhow, can't figure out wh… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,680 satisfied customers
Last year we sold my mothers house after she went into the
last year we sold my mothers house after she went into the nursing home. the house was quit claim deeded to me and my brother in 1998 with a life estate. my parents bought the house in 1991. my father… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,558 satisfied customers
I bought a townhome in Florida on March 2011 and lived there
I bought a townhome in Florida on March 2011 and lived there until may 2nd 2013. I have been renting it out ever since. I am planning to sell it now.1) the fact that I have used it as my primary resid… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,680 satisfied customers
I owned a house from which I moved 6 years ago. I rented the
I owned a house from which I moved 6 years ago. I rented the property and sold it last December 2016. My accountant entered this as a business and indicated that I was responsible for taxes on the cap… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,904 satisfied customers
I bought two homes, fixed them through workers, and now I'm
I bought two homes, fixed them through workers, and now I'm renting them. I'm not planning on selling them. I'm planning on giving the contractors a 1099. So far, it's been investment money going in t… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,563 satisfied customers
Here is my situation. I own a townhome in Seattle WA. I am
so, here is my situation. I own a townhome in Seattle WA. I am now moving to CA, and I am going to rent my home in Seattle. I am going to charge $3200 for monthy rent of my Seattle home. My current mortgage is $960 per month. What percentage of my rental income will be taxed? Basically I am just trying to find out the rental net income after taxes … read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,904 satisfied customers
Stephen. I'm considering selling my home in Colorado
hello Stephen. I'm considering selling my home in Colorado this month for roughly $1,700,000. I bought the home for $529,000 and have invested roughly $500,000 into the home over 20 years. With the $5… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,904 satisfied customers
My primary residence is in Texas, I rent a home in ND as we
My primary residence is in Texas, I rent a home in ND as we have a temp assignment up here. We rent out our texas home while away on assignments. Now I am thinking of selling our Texas house. What is … read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
271 satisfied customers
My son and daughter own (free and clear) the mobile home and
My son and daughter own (free and clear) the mobile home and the 2 acres of land the MH sits on. The MH is 30 years old. I so not pay any rent. The original cost of the land, MH, septic, and well was … read more
Tax.appeal.168
Tax.appeal.168
Principal
8,188 satisfied customers
My mother in law lives in the State of CA she is 67 and has
My mother in law lives in the State of CA she is 67 and has been retired for two years. She just sold her home in San Anselmo for $700,000. She and her husband paid $22,000 for the home 40 years ago. … read more
PhillipB EA
PhillipB EA
Accountant
Bachelor's Degree
130 satisfied customers
Hi, I moved to NJ from Texas in Sept of 2012. I bought my primary
Hi, I moved to NJ from Texas in Sept of 2012. I bought my primary NJ residence in August of 2013. I rent out my previous home in TX and am thinking of selling. I am wondering: what are the tax implica… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 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