Capital Gains and Losses

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Related Capital Gains and Losses Questions
I just purchased an investment residential duplex. I would
I just purchased an investment residential duplex. I would like to flip it to make cash, but I am concerned about short term federal capital gains. How can I reduce or redirect the profit to minimize … read more
JeffS6413
JeffS6413
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Master's Degree
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We have a tax question. I am purchasing my sister's home in
We have a tax question. I am purchasing my sister's home in California which she purchased in 2013 for $270,000 (and refinanced in Nov. 2020 for $315,000). The home was appraised at $535,000. We are g… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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For NJ State taxes (not Federal taxes), can u offset capital
For NJ State taxes (not Federal taxes), can u offset capital gains on sale of rental property with passive loss carried forwards from past losses associated with this rental property? Or can u only ad… read more
JeffS6413
JeffS6413
Principal/Advisor
Master's Degree
2,539 satisfied customers
We are Looking at purchasing a property for $155,000 and we
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
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,916 satisfied customers
If i have a ST loss, LT Capital Loss, and LT Capital Gain,
Hi, if i have a ST loss, LT Capital Loss, and LT Capital Gain, is it beneficial for me to try and make the LT capital loss and LT capital gain equal to eachother so that I can deduct my ST loss agains… read more
Barbara
Barbara
Enrolled Agent, Paralegal
21,769 satisfied customers
I have stock dividend income,+ an LT gain, A ST huge loss
I have stock dividend income,+ an LT gain, A ST huge loss for a net overall loss. The dividend income is less than the margin interest. 1 ) Can I deduct the margin interest from dividend income for MA… read more
Lev
Lev
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Bachelor's Degree Equivalent
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If i sell a stock now, and realize a term loss, (and i do
if i sell a stock now, and realize a long term loss, (and i do not have other capital gain or loss), does this reduce my overall income and makes me net operating loss if the negative amount from this… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
24,080 satisfied customers
I purchased many shares of Sprint stock probably 10 yrs. ago
Hello,I purchased many shares of Sprint stock probably 10 yrs. ago when it was going nuts and held it until 2017 when I finally gave up on any chance on the real value returning...at a pretty hefty lo… read more
Carter McBride
Carter McBride
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I own a condo overseas. It's rented to my uncle at lower
I own a condo overseas. It's rented to my uncle at lower than FMV price (about $7K/year). Therefore I cannot consider it as a business (by law) and I can deduct on schedule E essentially only the prop… read more
Barbara
Barbara
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----selling a personal residence with a loss. can i take it
----selling a personal residence with a loss. can i take it as a capital loss? ----selling a boatslip that i bought as an investment. never had any income from it. now selling it at a loss. can i take… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,882 satisfied customers
In 1989 I bough and lived in a house until 6 years ago when
In 1989 I bough and lived in a house until 6 years ago when I remarried and moved to a new house with my wife. My children continued to live in the original house rent free while I continued to pay th… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
This is a tax question related to the sale of my rental property,
This is a tax question related to the sale of my rental property, a single family home that I have owned since Aug 1, 2003. I want to know what to expect on my 2013 or 2014 tax return if I sell the pr… read more
financeguru2
financeguru2
Master's Degree
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I have realized capital losses as an individual U.S. Citizen
I have realized capital losses as an individual U.S. Citizen for the years of 2011 and 2012, both of which were substantially greater than the $3,000/yr limit which an individual is allowed to deduct … read more
jgordosea
jgordosea
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Bachelor's Degree
173 satisfied customers
we are liquidating apartments and commercial space in a building
we are liquidating apartments and commercial space in a building which we completed the construction of in 1983 and formed a condominium, We have held these apartments in condominium form and rented t… read more
R. Klein, EA
R. Klein, EA
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Master's Degree
271 satisfied customers
We purchased a home in July of 2011. The home purchased was
We purchased a home in July of 2011. The home purchased was a foreclosure. We decided to keep the home we previously lived in and gift it to our Daughter and Son-in-law. They have decided to move out … read more
Megan C
Megan C
Master's Degree
15,483 satisfied customers
We inherited a house from my mother-in-law 2 years ago, at
We inherited a house from my mother-in-law 2 years ago, at a higher value when she passed then when we sold. This was her 2nd house, no liens or mortgages, bought long ago for investment. It took abou… read more
Bill-the-CPA
Bill-the-CPA
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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
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Can a $195,275 real property investment capital loss offset
Can a $195,275 real property investment capital loss offset a $70,000 real property investment capital gain? Do we still need to pay capital gains? Does the capital loss and self-employed deductions o… read more
FredStevens
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jgordosea

jgordosea

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Experienced in business, accounting and tax planning for individuals, small/medium sized businesses and non-profit organizations

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Shane-CPA

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R. Klein, EA

R. Klein, EA

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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.

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