Capital Gains and Losses

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I am currently selling my rental property and don't know how
I am currently selling my rental property and don't know how to do capitol gains and have lost all my previous ax forms does irs have these records … read more
bkb1956
bkb1956
Enrolled Agent, Paralegal
14,994 satisfied customers
We are selling a home in Phoenix Arizona that we've owned
We are selling a home in Phoenix Arizona that we've owned since 2009, we have not lived in that home since 2011, we have a cost basis of 34000 and a list price of 169000. What could the capital gains … read more
levr
levr
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
We just sold a home that has been rented for the last 6
We just sold a home that has been rented for the last 6 years. The purchase price was $50,000 and the selling price was $769,000. While we were still living in the house we paid about $70,000 for majo… read more
CGassist.168
CGassist.168
Principal
8,590 satisfied customers
Do I have to pay my capital gains tax at the close of escrow
Do I have to pay my capital gains tax at the close of escrow for a sale of real estate in California … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
5,984 satisfied customers
I bought an apartment for personal use in 2009. In 2014, I
Hello,I bought an apartment for personal use in 2009.In 2014, I started renting it out. I used the straight line method to depreciate the property while it was rented. (27.5 years)After renting it out… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
15,487 satisfied customers
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
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
How do you calculate capital gains tax on primary residence
how do you calculate capital gains tax on primary residence after 4 years of leaving residence?… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
15,487 satisfied customers
I want to know how much i have to pay in taxes for a
I want to know how much i have to pay in taxes for a property that i sold … read more
levr
levr
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
I had a house that I used as a rental for three years and
I had a house that I used as a rental for three years and used accelerated depreation. I am wondering now where to find the number I should use for the capital gains on this years taxes...I sold the h… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
4,994 satisfied customers
My sister brother and myself inherited a house from our
Hello, My sister brother and myself inherited a house from our mother. It was appraised at that time at 620,000.00. we used it as a rental for several years. A few years back we had it appraised $540,… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
8,372 satisfied customers
Live in New York - sold my Father home and divided among the
Live in New York - sold my Father home and divided among the three children the monies received from the home per my father's Will. At the closing we received a 1099S form. Now I am doing my income ta… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
8,372 satisfied customers
How do you compute capitol gains on a rental property sale
how do you compute capitol gains on a rental property sale where land is valued at 28% of property and land at 72%?… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,070 satisfied customers
I am selling a rental real estate property and the closing
I am selling a rental real estate property and the closing will take place in January 2016. My profit will be approximately 100K. I have owned the property for 13 years and have taken the depreciation… read more
Jonathan Tierney
Jonathan Tierney
MBA
664 satisfied customers
How do I determine basis and tax bracket gains owner
how do I determine basis and tax bracket for capital gains for an owner occupied duplex where I've basically taken all the depreciation deductions… read more
TaxRobin
TaxRobin
Vocational, Technical or Trade School
33,048 satisfied customers
I have to report a capital gain on the sale of my moms house,
I have to report a capital gain on the sale of my mom's house, which was quit-claimed over to me and my two siblings several years ago, which took place this past year (2013). I assume the "basis" on … read more
PhillipB EA
PhillipB EA
Accountant
Bachelor's Degree
130 satisfied customers
A sale of inherited rental property with 1/3 ownership for
A sale of inherited rental property with 1/3 ownership for 15 years. Is there depreciation issues? Also a write-off for a trip to Missouri from Colorado to inspect the property. I've never dealt with … read more
CGassist.168
CGassist.168
Principal
8,590 satisfied customers
I have a rental property that was placed in service in 2009
I have a rental property that was placed in service in 2009 and I take 27.5-year depreciation in income tax. For simplicity, lets say the property is value at 275k and I depreciate 10k a year. I didn'… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,070 satisfied customers
My father died and left his home jointly to my four brothers
My father died and left his home jointly to my four brothers and me. His will stipulated that his 7 grandchildren should each receive $15,000 and the remainder to be divided between the five children.… read more
Bill-the-CPA
Bill-the-CPA
Certified Public Accountant (CPA)
Master's Degree
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