Capital Gains and Losses

Capital Gains Tax Questions? Ask a Tax Advisor for Answers ASAP

Connect one-on-one with {0} who will answer your question

Related Capital Gains and Losses Questions
I hope to sell my house for 1.2M. I expect to sell my home
I expect to sell my home for $1.2M. After paying off the bank $469,283.00 plus 4% RE fee ($30,000.) plus a local environmental 2% tax ($24,000.), and putting down $100,000.00 on an income producing property (I live in one apartment) and another $100,000.00 on a vacation home, how much capital gain tax will I have to pay? What is the percent of the capital gain tax? … read more
HowardD414
HowardD414
ATTORNEY/CPA
LLM
124 satisfied customers
My husband moved to Vegas last January for a new job. he
my husband moved to Vegas last January for a new job. he files tax separate. Should we file joint this year to avail the 500,000 exclusion in selling our house ? … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
20,973 satisfied customers
A mother gifts a piece of highly appreciated property to her
A mother gifts a piece of highly appreciated property to her son on the condition that the son will gift some money to his siblings to make it all fair. She could have sold the property to him and the… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,787 satisfied customers
My two sisters and I were deeded my mother's house when she
My two sisters and I were deeded my mother's house when she was still alive 20 years ago. She has since died, and the three of us are going to sell the house (to my brother). The house was worth about… read more
Anne
Anne
Master Tax Preparer
2,601 satisfied customers
Our company 3 equal partners just sold our building for 6 m
Our company 3 equal partners just sold our building for 6 m after commissions . We purchased it for 400k 20 years ago … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
I have a client who is in a house flipping business. In 2016
I have a client who is in a house flipping business. In 2016 he bought property for 700K and spent 300K on renovation. In 2017 he spent another 200K on renovation and sold the property for 1,400,000 d… read more
Carter McBride
Carter McBride
LLM
7,996 satisfied customers
My mother passed away without a will and her estate is going
My mother passed away without a will and her estate is going through probate. She has 3 properties in California. I live in Tennessee and am wondering what are the tax implications of my inheritance, … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
20,973 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
6,520 satisfied customers
I want to sell a piece of property and carry the note how
i want to sell a piece of property and carry the note how will this effect my taxes … read more
ABC Accounting Group
ABC Accounting Group
Bachelor's Degree
1,068 satisfied customers
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
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
9,554 satisfied customers
I have a client who did the following and i need the journal
I have a client who did the following and i need the journal entries to record: - Has three capital leases total obligation $134K. With these three leases, he then leases these machines to clients and… read more
PDtax
PDtax
Owner
Master's Degree
6,504 satisfied customers
There this question is Real Estate Attorney! Years
Hi there this question is for a Real Estate Attorney! Years ago more than 7 or 8 years ago my sister bought a house in texas before she was married then she found someone to live with and did not want… read more
Barbara
Barbara
Enrolled Agent, Paralegal
20,922 satisfied customers
Property sale $720,000 Basis $380,000 Expenses est. $40,000
Property sale $720,000 Basis $380,000 Expenses est. $40,000 Property is in a trust with 3 daughters (not brother), court supervised agreement stipulates 50% of net sale proceeds is to be paid to broth… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,749 satisfied customers
Did you say you needed more details. As stated: I have a
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
Jonathan Tierney
Jonathan Tierney
MBA
295 satisfied customers
I bought my mother's home when she passed (bought out 3 brothers),
I bought my mother's home when she passed (bought out 3 brothers), and my sister lived there for four years. It is not my primary residence but I was only one on deed. I am selling it now, and will ma… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,749 satisfied customers
My mother is 98 years old, has dementia, and is living in a
My mother is 98 years old, has dementia, and is living in a rural Colorado skilled nursing facility. She has social security, some help from a long-term care policy, and is self-paying due to the sale… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
271 satisfied customers
My mom died in 2014. She had put her home in both my name and
My mom died in 2014. She had put her home in both my name and my sister's name. We have sold the house and will split the money from the sale. Will it be considered capital gain? If i purchase a home … read more
PhillipB EA
PhillipB EA
Accountant
Bachelor's Degree
130 satisfied customers
hi....my brother and I own rental properties together....what
hi....my brother and I own rental properties together....what is the net effect of taking depreciation when selling the rental....example lets say you depreciated house $10,000 over 5 years....and cos… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
271 satisfied customers
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.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

jgordosea

jgordosea

Enrolled Agent

173 satisfied customers

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

PhillipB EA

PhillipB EA

Accountant

130 satisfied customers

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

Arthur Rubin

Arthur Rubin

Tax Preparer

86 satisfied customers

Over 22 years of tax preparation experience.

Bill-the-CPA

Bill-the-CPA

Certified Public Accountant (CPA)

55 satisfied customers

Seasoned professional with over 15 years in public accounting. Income, sales and property tax. Also accounting/tax software.

FredStevens

FredStevens

Accountant

37 satisfied customers

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

Shane-CPA

Shane-CPA

CPA, PFS, CGMA

11 satisfied customers

Shane Northrop is a Certified Public Accountant, Personal Financial Specialist and a Chartered Global Management Accountant

R. Klein, EA

R. Klein, EA

Enrolled Agent

271 satisfied customers

Over 20 Years experience in resolving tough tax cases

< Previous | Next >

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.

Show MoreShow Less

Ask Your Question

x