Capital Gains and Losses

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My. My mother recently sold a house that she received
My mother recently sold a house that she received through my father's will. He was given the home by his parents. My mother has had the house since his death almost nine years ago. It has been vacant for the last twenty years. … read more
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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 mother deeded over to me 30 acres of farm ground and her
My mother deeded over to me 30 acres of farm ground and her house and outbuildings in 2000 after my father passed away all with a life estate attached. The deeds are in my name and she also gets the a… read more
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1) My parents owned a house outright in North Carolina. When
1) My parents owned a house outright in North Carolina. When my father passed away 5 years ago, my mother was in ill health so we immediately transferred ownership to my adult daughter (their granddau… read more
Barbara
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I asked a question yesterday and am still a little unclear.
I asked a question yesterday and am still a little unclear. If we bought a house from my mother in law for $370K with a $140K gift of equity. Would she calculate her profit based on $370K or subtract … read more
Barbara
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Last year we sold my mothers house after she went into the
last year we sold my mothers house after she went into the nursing home. the house was quit claim deeded to me and my brother in 1998 with a life estate. my parents bought the house in 1991. my father… read more
Lev
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Purchased a condominum in Chicaho,Il,3 months ago.Suposse
Mary purchased a condominum in Chicaho,Il,3 months ago.Suposse she paid $120000.She spent 10000 for renovation.She decides to sell and sells the condo 5 mobths after purchase,for $ 170000.She paid $80… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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My dad had put the house he owned into a trust. He did this
My dad had put the house he owned into a trust. He did this while still alive. He has since passed. The house was sold after he passed away. It sold for $135,000.00 in the state of CT. It was original… read more
Lev
Lev
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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
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My wife was on the house title with her mother she passed
my wife was on the house title with her mother she passed away so we sold the house gain was about 100k does she have to pay tax on that? … read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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Your email address came up while I was researching taxable
Hello, your email address came up while I was researching taxable gains on my Mother's home that I recently sold.Scenario1. I am an only child 2. My Mother put my name on her house (the house I grew u… read more
Stephen G.
Stephen G.
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In 2014 my mother put my name on her deed. My father was
In 2014 my mother put my name on her deed. My father was deceased, and I am her only child. She passed in Oct, 2016. We were in the process of selling the property and had it under contract at that ti… read more
Stephen G.
Stephen G.
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My mother is selling her house. She is 81. She lived in the
Hello, My mother is selling her house. She is 81. She lived in the home 12 years. It was her only residence. 2 years ago, March 2014 she had a stroke and had to move in with me. She could no longer dr… read more
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My mother recently moved to an assisted care facility. The
My mother recently moved to an assisted care facility. The family is now deciding on whether to rent her house out or to sell. The concern of renting is that we might have a large capital gain tax to … read more
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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
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Hi my mother owns a home that has been handed down from her
Hi my mother owns a home that has been handed down from her mother and her mother (my great grandmother was the original owner in the 1960's). In California this home has been under Propostion 13 tax … read more
Stephen G.
Stephen G.
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my 91 yr old mother has a home in massachusetts that is in
my 91 yr old mother has a home in massachusetts that is in her revocable trust. the home is now owned by her 4 adult children. my father put it in all our names decades ago. the home is paid for in fu… read more
PhillipB EA
PhillipB EA
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my mom recently passed away. She had gave all her land to
my mom recently passed away. She had gave all her land to us children 7 yrs ago and had a life time right to her house. Will we have to pay capital gains tax from when my mom and dad purchased farm in… read more
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