Capital Gains and Losses

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Capital gain assets of $175,000 from sale of family property
Capital gain assets of $175,000 from sale of family property deposited into my account. I must divide it with three other siblings. How do I make each sibling responsible for capital gain tax on their… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
8,384 satisfied customers
Our mother is setting up her estate/will to sell her
Our mother is setting up her estate/will to sell her property to be divided up between her 4 children equally. She's own the property for 66 years with no debt on it. If she sells for cash how do we a… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
4,994 satisfied customers
My parents set up a Living Trust my father died my mom is
My parents set up a Living Trust my father died my mom is now the Trustee.Question: What might be some of the tax liabilities that may take place once she dies and the Estate is now divided equally?… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
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I'm trying to plan out what would be the most tax advanteous
Hi, I'm trying to plan out what would be the most tax advanteous thing to do with my in-laws' home when they pass away. They purchased this home decades ago for about $25K and it's now worth about $50… read more
levr
levr
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Bachelor's Degree Equivalent
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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
29,992 satisfied customers
A client of mine called with a ???. his mother in law has
a client of mine called with a ???. his mother in law has passed away, leaving the estate to her husband. in the estate is farmland that was in her family forever, it was inherited by her years ago. t… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
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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
Tax advisor and Enrolled Agent
Bachelor's Degree
8,384 satisfied customers
California - TRUST AB - Inheritance - RE 1031 Exchange My
California - TRUST AB - Inheritance - RE 1031 Exchange My mother has died with an AB trust. Three children sharing equally. House in Trust part B was valued at $375,000 at time of father's death, curr… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,108 satisfied customers
Long store unfortunately, do you have a few minutes, My
Long store unfortunately, do you have a few minutes … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,992 satisfied customers
I inherited three apartment buildings in 2001 at a low cost
I inherited three apartment buildings in 2001 at a low cost basis and have been depreciating Down since then. If I were to sell now what would be the approximate percentage of Capital gains would I be… read more
Mark D
Mark D
Master's Degree
1,126 satisfied customers
We sold our mothers home after she died. The home was in the
We sold our mothers home after she died. The home was in the names of the four children. She gave over the deed years ago and just lived in the house. After her death the house sold for $95,000. We di… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,992 satisfied customers
If real estate is held in the trust of a deceased party, can
If real estate is held in the trust of a deceased party, can the beneficiaries of this trust avoid capital gains taxes if they take title to the property via quit claim deed from the trust, with no ex… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,108 satisfied customers
My folks have sold their farm ground recently for $3,000,000
My folks have sold their farm ground recently for $3,000,000 to an oil company. The land was purchased in approx. 1961 for $100,000 ($50,000 by my dad and $50,000 by his brother) and was farmed by my … read more
CGassist.168
CGassist.168
Principal
8,682 satisfied customers
I am 84, a widow, have not filed taxes is abut 2 years due
I am 84, a widow, have not filed taxes is abut 2 years due to no income except Soc Sec. My husband died in 1978. He had inherited land from his mother who is also deceased. I do not live on the land b… read more
TaxRobin
TaxRobin
Vocational, Technical or Trade School
33,118 satisfied customers
4 adult children are listed as joint tenants on a rhode island
4 adult children are listed as joint tenants on a rhode island property - the transfer of deed was made while both parents were alive. each parent had a life estate in the property. dad is deceased an… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
263 satisfied customers
My ex husband bought our house in 1993 for 450. Loan was for
My ex husband bought our house in 1993 for 450. Loan was for 325. It was in his name only until 2003, when we refinanced for 425 in both names. In 2004, we got divorced and I had to buy him out for ex… 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
263 satisfied customers
Dad died last week and willed several real estate properties
Dad died last week and willed several real estate properties (7 properties) to three children to be divided equally. I expect to inherit one or two of these properties. I am currently 60 years old and… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
263 satisfied customers
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R. Klein, EA

R. Klein, EA

Enrolled Agent

263 satisfied customers

Over 20 Years experience in resolving tough tax cases

jgordosea

jgordosea

Enrolled Agent

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

PhillipB EA

PhillipB EA

Accountant

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Bill-the-CPA

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FredStevens

FredStevens

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Shane-CPA

Shane-CPA

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

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