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 am selling my home upstate New York and am interested in
Hello,I am selling my home upstate New York and am interested in buying a more expensive home not to distant from the location. Is it mandatory in New York State to use a 1031 like-kind exchange? Can … read more
Fred Rook
Fred Rook
Corporate Controller
BSBA
1,101 satisfied customers
I own a house in AL that we bought in 2000. We lived in the
I own a house in AL that we bought in 2000. We lived in the house until 2003. We moved to SC for a job, but could not see the house, so we have been renting. If I sell the house, do I have to pay capi… read more
Barbara
Barbara
Enrolled Agent, Paralegal
21,782 satisfied customers
We have 2 homes. One in Oregon that we have lived in off and
We have 2 homes. One in Oregon that we have lived in off and on for 7 years (consistently for the last 436 days to date) and one in Alaska that we purchased in 1989. Our daughter has lived in our Alas… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,882 satisfied customers
My friend is currently purchasing an owner-occupied home (
Hi,My friend is currently purchasing an owner-occupied home ( house A) , she purchased the other house as her primary home ( house B) in May 2020. According to the lender's guideline, she could not ow… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,194 satisfied customers
We are located in Tennessee currently. We sold our previous
Hi, we are located in Tennessee currently. We sold our previous home in Virginia, and are planning to move to Maine. Our move to Tennessee was motivated by my mother's final stages of cancer. … read more
JeffS6413
JeffS6413
Principal/Advisor
Master's Degree
2,539 satisfied customers
I have a question about capital gains exclusion on
I have a question about capital gains exclusion on residences in California. I took a job in Oregon in October of 2017. I had two homes I needed to sell because of the move. Home A I lived in from 198… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,194 satisfied customers
I have owned my home for 40 years but moved out of it 5
I have owned my home for 40 years but moved out of it 5 years ago. I never rented it out as it was in disrepair. will I be subject to capital gains if I sell it. … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,194 satisfied customers
My wife and I are selling our home in SC and will purchase a
My wife and I are selling our home in SC and will purchase a new home in Washington State. The current home has been our primary residence for over 3 years. I anticipate the 'proceeds' from the sale o… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
I have a question about capital gains on the sale of a home.
I have a question about capital gains on the sale of a home. Is there a charge for your service? … read more
TaxRobin
TaxRobin
Tax Preparer
Vocational, Technical or Trade School
31,086 satisfied customers
Morning mother sold a piece of investment commercial
Morning mother sold a piece of investment commercial property in delaware that she and father owned for 35 years. Purchase price 35 years ago $35,000 sales price $600,000. Her tax rate will be 15%...h… read more
TaxRobin
TaxRobin
Tax Preparer
Vocational, Technical or Trade School
31,086 satisfied customers
If we sell our primary home in WA state and a second home in
If we sell our primary home in WA state and a second home in AZ and combine the proceeds to purchase a new primary home will we be subject to capital gains taxes on either sell? My husband & I are bot… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,882 satisfied customers
Re Rental Property/sale of residence. I bought a 2nd house
Re Rental Property/sale of residence. I bought a 2nd house in1985 for $35K. I rented the house for 20+ years and took depreciation deduction of $28K through 2003. I have not rented it for the past 4 y… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,882 satisfied customers
If I buy a second home, wait three years, sell my primary residence
If I buy a second home, wait three years, sell my primary residence and apply the funds to that second home (which becomes my private residence), will I pay capital gains on the sale of the first home… read more
Tax.appeal.168
Tax.appeal.168
Principal
8,189 satisfied customers
I currently own two home. One which I live in and one in which
I currently own two home. One which I live in and one in which I stay a couple of times a month for a few days. I am also building a new home that will be my residence when finished. I am spending a l… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,882 satisfied customers
Our parents have owned their home for over 50 years They own
Our parents have owned their home for over 50 years They own it clear. We understand that there is a primary residence capital gains exclusion of $250,000/$500,000 if they have lived in the house 2 ou… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
CAPITAL GAINS TAXMy wife and I sold our jointly owned UK
CAPITAL GAINS TAX My wife and I sold our jointly owned UK property (i.e. our home), having lived in it for 15 of 25 years and rented it out for a continuous period of 10 years during which time we liv… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I have a home in Wisconsin that I purchased in 1983. I moved
I have a home in Wisconsin that I purchased in 1983. I moved to Nevada in the end of 2007 and have purchased a home here that is under water. My son currently lives in the house in Wisconsin. I purcha… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 satisfied customers
My wife and I own a house in PA with a potential capital gain
My wife and I own a house in PA with a potential capital gain of $80000. Her mother in KY wants to gift or transfer ownership of her house (her main residence) to my wife yet live in it herself until … read more
Bill-the-CPA
Bill-the-CPA
Certified Public Accountant (CPA)
Master's Degree
55 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