Capital Gains and Losses

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Selling my house that I have rented for 4 years. Bought for
Selling my house that I have rented for 4 years. Bought for $120,000 in 1998. Selling now for $310,000. How can I avoid or reduce the tax on the gain. … read more
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I have purchased my house back in the 2006 for 350 k and
Hi .. I have purchased my house back in the 2006 for 350 k and sold it in 2020 for 377 k. Over the years I did repair my house and repairs are notched in my taxes. However I did not included all my ho… read more
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I have a question regarding cost basis for an investment
I have a question regarding cost basis for an investment property, can HOA payments and utility bills paid during the time holding the property be added to the cost basis ? The property was never put … read more
JeffS6413
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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
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Going thru messy divorce and based on Covid we have been at
Going thru messy divorce and based on Covid we have been at a stand still for moving forward for judgements, final, etc. we did however see our house this year as part of judge orders. 1st home ever p… read more
Barbara
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I just sold a home that I purchased in 1990. I lived in it
I just sold a home that I purchased in 1990. I lived in it only 4 years and it has been a rental home since 1994. I know that some improvements (new roof, updated kitchen, all new windows) will reduce… read more
JeffS6413
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Sold the house for $456,000 I believe I can claim 250 exempt
Sold the house for $456,000 I believe I can claim 250 exempt for capital gains just need to make sure that I am responsible for $206,000 to pay taxes on it 3.33 … read more
Lev
Lev
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My husband and I bought a piece of property and put a used
My husband and I bought a piece of property and put a used mobile home on it 39 years ago. It became uninhabitable about 5 years ago. I am now selling the property with the defunct mobile home on it. … read more
emc011075
emc011075
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Before preparing my taxes, I need to be prepared, as a
Before preparing my taxes, I need to be prepared, as a retiree, to understand what my capital gains tax liability will be for 2018. Sold my home of 29 years in 2018 for $880K, which I paid $165K for i… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I have a rental house I bought with money from a like kind
I have a rental house I bought with money from a like kind exchange 12 years ago. It was rented for 7 years but my adult son has lived there for the last 5 years rent free. If I sell it will I have to… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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We sold our home after 45 years and bought another. I
We sold our home after 45 years and bought another. I believe I can deduct the improvements we made to the house of 45 years, right? The house we bought has two air conditioners and the seller p0rtray… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
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My mom Quitclaimed a home she bought in her family trust 11
My mom Quitclaimed a home she bought in her family trust 11 years ago for $605,000. The quitclaim was just in May of 2016 for $10. If I sell the house for $485,000 this year then what will happen? … read more
TaxRobin
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I bought a house in 1994 which i used as a primary residence
I bought a house in 1994 which i used as a primary residence until 2008 then i rented this property in 2008 until 2016 and sale in 2016 when I should start pay for capital gain since 1994 or 2008?… read more
emc011075
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I bought a house in Jan 1968 $ and sold it onAug 30, 1969
I bought a house in Jan 1968 for 20318$ and sold it onAug 30, 1969 for 22,400$, for an unadjusted gain of 2082$ I lived in the home less than 2 yrs. I then bought a more expensive home for 40000 on Fe… read more
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I purchased a 4 family house in Rochester, NY in 2003 and
I purchased a 4 family house in Rochester, NY in 2003 and paid 100,000 for it. The house is under a sale contract for 150,000 and will close in January 2016. I have put on a new roof for 7000 and adde… read more
Lev
Lev
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I own two houses. My son pays the mortgage payment on one that
I own two houses. My son pays the mortgage payment on one that he and his family live in. I bought the house in April of 2009 for $214K. He is buying his own home and will be selling my home for $240k… read more
Tax.appeal.168
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my father bought his house in 1970 for 18000 dollars with him
my father bought his house in 1970 for 18000 dollars with him and my mother on the deed. in jan 2012 my mother set up a trust that the house was ours but she could live here unil she died, three weeks… read more
JerrySJD
JerrySJD
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Hello, I have a rather complicated, but also rather simple
Hello, I have a rather complicated, but also rather simple question. I have recently sold my property (house) in Pennsylvania. I hold the mortgage on the house. I live in another state as a permanent … read more
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