Capital Gains and Losses

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If someone buys a real estate for $150,000. 6 years later,
If someone buys a real estate for $150,000. 6 years later, they sell the property for 100,000.This would represent a $50k long term capital gains loss. How could they use this loss to their advantage?… read more
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Hi there. We are Looking at purchasing a property for $155,000 and we are selling another property for $197,000 will this allow us to use capital gains and not pay a penalty? … read more
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Scenario:Residential Rental property bought in Sept 2010 and sold in Dec 2020 Straight line Depreciation has been claimed for all years that the property has been a rental.Purchase cost (purchase pric… read more
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I just sold a rental property 1-29-20. It belonged to my
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I have a few rental properties and I've just sold one last week. I have a few questions: 1. Can I use my losses to offset my depreciation in this property. All of my properties are under my name for t… read more
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I inherited a business in 2007. The value was not changed and still shows the original cost on all tax filings. The assets were sold last year. An appraisal was completed in 2007. How can I get the va… read more
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In June 2003 we purchased a parcel of undeveloped land (investment property) for $35k. In April 2015 we sold the undeveloped land for $5k. How do we declare this loss to IRS for 2015? If we sell a ren… 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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I own a house (rental property) with my brother through an
Hi there, I own a house (rental property) with my brother through an LLC. We are selling this house (#1) next month with a $100,000 gain. I have another property under contract (#2) and hope for a 130… read more
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Did you say you needed more details. As stated: I have a rental on the market. My tax guy says the depreciation is "maxed" out. We are presently purchasing another rental in advance - settlement is so… read more
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My husband and I purchased our home in 2000, and did some major additions and renovations. Our basis is about $2 mil. There is a cottage on our property which we rent out, declare income, and deprecia… read more
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Hi HMRC have asked me to produce a Capital Gain calculation on a property I sold with my partner back in 2009. History: Purchased October 2002 and lived in until December 2008. Rented out from Decembe… read more
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