Capital Gains and Losses

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My mother quit claimed her home to my sister and myself 9
My mother quit claimed her home to my sister and myself 9 years ago with the stipulation that she could live there until she passed away. She passed away in April and we just sold the home for $253,00… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
5,503 satisfied customers
My family(less than 100 joint owners) owns the land that was
My family(less than 100 joint owners) owns the land that was developed into 81 units (condos and privite)which might be on the market for sale at their option. the lesees pay rent for now and the next… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
5,503 satisfied customers
I own 3 properties (my primary residence in Riverside, CA,
Hello, I own 3 properties (my primary residence in Riverside, CA, plus a condo in Palm Springs, CA, which I rent through AirBnB & VRBO. Finally, I own a home in Indio, Ca, which I rent to my sister & … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
5,503 satisfied customers
My wife Daughter and I are selling a house that has us all
My wife Daughter and I are selling a house that has us all listed as owners. We want to split up the proceeds with some profit going to our daughter as he has been living in the house and paying the m… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
21,989 satisfied customers
I was a joint tenant in Maryland with mom. Mom lived in the
I was a joint tenant in Maryland with mom. Mom lived in the condo. Mom dies in 2013, brother lives in condo too dies in 2014. I sell condo in March 2017. How do I calculate capital gains? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,168 satisfied customers
Alma just paid off her mortgage on a condo.The condo was
Hi! Alma just paid off her mortgage on a condo.The condo was rented to her cousin,for 5 years.It was purchased for about $200000.The current value would be about 250000. She would like to transfer the… read more
socrateaser
socrateaser
1,535 satisfied customers
I have a real estate property that I'm looking to use to
i have a real estate property that I'm looking to use to form a lcc with my mother (currently a rental property, she intends to live there and pay off the remaining mortgage of $140k, house appraised … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
5,503 satisfied customers
I live in Rhode Island and so did my 91 year old Mother. She
I live in Rhode Island and so did my 91 year old Mother. She just sold her home in May. My name as well as my brothers, sisters and of course my Mothers name was on the deed at the time of the sale. M… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
5,503 satisfied customers
Example: Ana purchased a condominium in Chicago in 2013.She
Example: Ana purchased a condominium in Chicago in 2013.She moved with her boyfriend in 2014 and rented her condo to somebody else since.So she only occupied the unit as "owner occupied" for 1 year. 1… read more
levr-tax-gain
levr-tax-gain
Tax Advisor
Bachelor's Degree Equivalent
49,906 satisfied customers
Both my parents passed away last fall. They lived in house
Both my parents passed away last fall. They lived in house in Massachusetts which they bought for 135K back in 2000. At the time because of their credit issues my sister had to put the house in her na… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,185 satisfied customers
I bought a condo 10 years ago for $280K, daughter to
I bought a condo 10 years ago for $280K, for my daughter to live in during the last 2 years of college. After she graduated we have been renting it out. Now, my daughter wants to move back in and own … read more
levr-tax-gain
levr-tax-gain
Tax Advisor
Bachelor's Degree Equivalent
49,906 satisfied customers
In 2014 my wife sold a second property (not our primary residence)
In 2014 my wife sold a second property (not our primary residence) for $454K that she had allowed her mother to live in for 14 years without paying rent (my wife never lived there). She sold it for a … read more
Arthur Rubin
Arthur Rubin
Tax Preparer
Doctoral Degree
85 satisfied customers
Capital gains on property quit claimed to children
My mother purchased a condo in 1979 in her name. She prepared a quit claim deed to my brother and I in 1999. The original purchase price was around 45,000. My mother assumed the original loan at the t… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,185 satisfied customers
Our family currently owns a property that has been rented out
Our family currently owns a property that has been rented out for the past 7 years that we are looking to sell. If we remove our mother's name from the Title of the property, would she still be hit wi… read more
PhillipB EA
PhillipB EA
Accountant
Bachelor's Degree
130 satisfied customers
I bought a condo in 2003. I lived in it for 5 years and then
I bought a condo in 2003. I lived in it for 5 years and then moved out in Dec, 2008. I got seperated from my wife in Sept, 2012. I finally moved back in to the condo in Oct,2013. I want to sell it now… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,185 satisfied customers
A close relative living in the US is selling property overseas.
A close relative living in the US is selling property overseas. She will be declaring the sale on her US tax return for 2013, and then gifting the proceeds to me in 2014. I understand there is a once … read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 satisfied customers
My mother-in-law is 83 years old. She has two children and
My mother-in-law is 83 years old. She has two children and 9 grand children. She has a trust for her estate which at this time has an approximate value of $1.75 million, and currently all the assets a… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
270 satisfied customers
US income tax question. Ten years ago, my mother put my name
US income tax question. Ten years ago, my mother put my name on the deed to her condo because she wanted me to have it upon her death. We were joint owners. In May 2011, she was admitted to a long-ter… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
270 satisfied customers
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jgordosea

jgordosea

Enrolled Agent

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As an Enrolled Agent you can be ensured of my competence in income tax matters.

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PhillipB EA

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Enrolled Agent with 8 years experience in tax return preparation, representation, and taxpayer consultation

Arthur Rubin

Arthur Rubin

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Over 22 years of tax preparation experience.

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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

Enrolled Agent

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Over 20 Years experience in resolving tough tax cases

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