Capital Gains and Losses

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

Ask an Expert,
Get an Answer ASAP!

Related Capital Gains and Losses Questions
I recently sold a property. The sale price was $835k. The
I recently sold a property. The sale price was $835k. The cash payout from fire damage was $447k.The adjusted basis of property is aprox $382k.What would I owe for federal tax and CA? And when should … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
8,378 satisfied customers
I am over 55. I bought a house "A" on June 28, 2016 with a
I am over 55. I bought a house "A" on June 28, 2016 with a 1031 exchange in Contra Costa county. I sold my principal residence "B" in the same county on Feb 14, 2017 for a price higher than "A".If I o… read more
bkb1956
bkb1956
Enrolled Agent, Paralegal
15,052 satisfied customers
Due to a move in 2013, we ended up converting what had been
Due to a move in 2013, we ended up converting what had been our primary residence to a rental property. We had lived in that prior primary residence since 2003. In 2013, we claimed 120 days of Persona… read more
ABC Accounting Group
ABC Accounting Group
Bachelor's Degree
1,930 satisfied customers
My 90 year-old dad has owned his home for 61+ years. My 56
My 90 year-old dad has owned his home for 61+ years. My 56 year-old brother, who has a long term separation from his wife, has lived in the house with dad for 18+years. Dad has Alzheimer's and we fina… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,096 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
12,096 satisfied customers
I am hoping someone can help with this issue: My mother sold
I am hoping someone can help with this issue: My mother sold an investment property (Property A) in the fall of 2006 and was working with a 1031 exchange company to reinvest at equal or greater value.… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,096 satisfied customers
This is applicable to several of your categories. Here is
This is applicable to several of your categories. Here is my question: My Corporation made a Corporate loan to another Corporation in 2009, I have since written off that loan as bad debt on my books. … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,096 satisfied customers
debtor owes on a valid promissory note and is or nearly
debtor owes on a valid promissory note and is or nearly illiquid. Related party transaction. Can debtor and creditor make a new deal wherein creditor will get a small percentage of net income from a s… read more
BK-CPA
BK-CPA
Bachelor's Degree
972 satisfied customers
for PDTax If both I and my employer contributing to ESOP,
for PDTax If both I and my employer contributing to ESOP, Which part is treated as capital gain -- is it just earnings on employer contribution, or BOTH mine and employer portion of earnings on combin… read more
PDtax
PDtax
Owner
Master's Degree
9,534 satisfied customers
I recently sold an invention to another company. They will
I recently sold an invention to another company. They will pay me installment payments over the next 10 years. I will be reporting this income as capital gains. I plan to set up a corporation and rece… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,670 satisfied customers
My mother in law lives in the State of CA she is 67 and has
My mother in law lives in the State of CA she is 67 and has been retired for two years. She just sold her home in San Anselmo for $700,000. She and her husband paid $22,000 for the home 40 years ago. … read more
PhillipB EA
PhillipB EA
Accountant
Bachelor's Degree
130 satisfied customers
I have an ESOP account from my employer. where I have been
I have an ESOP account from my employer. where I have been contributing 6% and the employer has been matching this contribution at 4%. I also have been contributing additional 3% of my salary to 401k … read more
PDtax
PDtax
Owner
Master's Degree
9,534 satisfied customers
I bought my home for $32,000 in 1964. I want to sell it for
I bought my home for $32,000 in 1964. I want to sell it for $1.2m. I understand that I have dispensation of $250,000 and I have put over $350,000 of work on the home but don't receipts for all of the … read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 satisfied customers
My grandparents purchased land 60 yrs ago in a country Asia
My grandparents purchased land 60 yrs ago in a country Asia where they lived, and they passed away in the 1950s. They had 4 children (1 being my father). My father left the country our family in the e… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,096 satisfied customers
If I make a donation in the form of art or furniture, can I
If I make a donation in the form of art or furniture, can I take the deduction based on its fair market value?… read more
PhillipB EA
PhillipB EA
Accountant
Bachelor's Degree
130 satisfied customers
Am the sole shareholder of an s corp. Am selling the stock
Am the sole shareholder of an s corp. Am selling the stock of the company and taking back a 15 year loan. Want to report the profit on the installment basis on form 6252. How do I report that this is … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,096 satisfied customers
I live on $741.00 a month,SSI. My five siblings and myself
I live on $741.00 a month,SSI. My five siblings and myself sold a property. Will I be required to pay Capital Gains Tax?… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,096 satisfied customers
I own a condo in Ca. I live (rent apt.) in Texas. I loose $$
I own a condo in Ca. I live (rent apt.) in Texas. I loose $$ every month on my condo. I would like to sell it and buy something in Texas. I have $30,000.00 in credit card debt. I would like to pay off… read more
Arthur Rubin
Arthur Rubin
Tax Preparer
Doctoral Degree
77 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:

R. Klein, EA

R. Klein, EA

Enrolled Agent

263 satisfied customers

Over 20 Years experience in resolving tough tax cases

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

77 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

< 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