Capital Gains and Losses

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Capital Gain Taxes question. Scenario; My Children and I
Scenario; My Children and I inherited a home two years ago from family trust. My mother-in-law was the main recipient, but she passed away in 2017 and my wife in 2018. The question is from what date does the capital gain starts when the house was value at my mother-in-law death or when the house was inherited to when we sale it? … read more
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I and my brother inherited my mother's house. We have to go
I and my brother inherited my mother's house. We have to go to probate court because the first person on the estate was another brother who died. He put the house in his own name. A living trust state… read more
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I'd like some help understanding IF, in a Living Trust the Proceeds from the Sale of a Home ie (Capital Gains) to the Beneficiaries is a Reportable/Taxable event? … read more
levr-tax-gain
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Irrevocable trust - final return - trust sold a house and
irrevocable trust - final return - trust sold a house and sold brokerage account - proceeds were distributed to 3 beneficiaries - this there was a gain on the house - in what box on the k1 would the g… read more
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Question My Mom had a Living Trust formed in 1992 with my
Question My Mom had a Living Trust formed in 1992 with my Dad as the sole Trustee/Beneficiary. The Trusts assets were real estate that they had owned jointly before establishing the trust. Per the tru… read more
levr-tax-gain
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My mother died in 1989. She had interest in a 100 ac farm
My mother died in 1989. She had interest in a 100 ac farm land with other family memebers. In 2016 the family was forced to sell the property due to health reasons of my mothers sister who lived and m… read more
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The grantor passed away and the home is being sold in a
The grantor passed away and the home is being sold in a trust. Who can write off improvements done to the home, as well as the repairs done to get saleable? Can we offset capital gains moving forward?… read more
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I am trying to decide if I need to do an appraisal on a
I am trying to decide if I need to do an appraisal on a property in the B trust as my mother died in May. My father predeceased her in 1996, the date of the Trust Split. … read more
levr-tax-gain
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My sister is the POA and executor for my mother's estate.
My sister is the POA and executor for my mother's estate. The trust sold a house in 2016 at a loss. The house was empty from 2012 when my mother died until the sale in 2016. We found out that the trus… read more
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My 2 sisters and I sold a house in 2016 that we inherited in
My 2 sisters and I sold a house in 2016 that we inherited in July 2012 when my mother passed away. There is a Capitol Loss from the appraised value of July 2012. Do my sisters and I just split the Cap… read more
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I'm working on my late mother's trust taxes (1041) and I
I'm working on my late mother's trust taxes (1041) and I don't quite understand how a capital loss is distributed to beneficiaries. With the sale of some mutual funds and her home there is a overall c… read more
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I inherited a business in 2007. The value was not changed
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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My brother set up a Trust before he passed away in 2003 with
My brother set up a Trust before he passed away in 2003 with my mother as the beneficiary. The Trust ceased in 2015 upon my mother's death and my sister and I become equal owners after her death. This… read more
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My mother passed away, leaving a home to sell. With 7 heirs,
My mother passed away, leaving a home to sell. With 7 heirs, how will the capital gains be calculated for the sale of this inherited property?… read more
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I live in Oklahoma and have sold 1/2 of my mineral rights.
I live in Oklahoma and have sold 1/2 of my mineral rights. I inherited the mineral rights from my parents and don't know how to find the worth in 1994 when mom passed away… read more
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I inherited a GST-exempt Trust in June 2008 when my mother
I inherited a GST-exempt Trust in June 2008 when my mother passed away. There is a house in the trust that was partly owned by my mother and partly owned by myself and my husband. When my mother passe… read more
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My Grandfather who passed away had his house transferred into
My Grandfather who passed away had his house transferred into a trust that was split between My Aunt, Mother (Deceased), Uncle, and Myself. We are fixing it up to sell, will we be hit with Capital Gai… read more
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If I am selling my mothers house (I am executor) for 400,000
If I am selling my mother's house (I am executor) for 400,000 and the reverse mortgage payoff is $355,000 how much will be my capital gains?… read more
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