Capital Gains and Losses

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We purchased a property in Riverside California 14 years ago
Hi, We purchased a property in Riverside California 14 years ago for $400,000 that we use as a construction yard but it also has a house on it that we rent out. We spent only about $7,500 in upgrades … read more
PDtax
PDtax
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My house selling for about 2 million, my equity is 1 million
My house selling for about 2 million, my equity is 1 million and all cap gain. Roughly, what are my calif state and federal cap gain taxes. Or, how can I find out? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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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
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My Father in law died in June, he was end of treatment of
My Father in law died in June, he was end of treatment of leukemia and sold all his stocks a week before he died, in December my mother in law died. How do we handle these capital gains? money was nev… read more
levr
levr
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W-2 income is $15k, am selling rental for grand kids
W-2 income is $15k, am selling rental for grand kids tuition. Cost $36k 23 yrs ago selling for $136k. Depreciation of $30k. Is the cap gains tax 0% because my regular income tax is below 15% … read more
Chad EA, CDFA®, CFP®
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Selling our primary residence...lived there for over 40
selling our primary residence...lived there for over 40 years- … read more
bkb1956
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Home appraised at $600,000 in Calif. Can I sale my house to
Home appraised at $600,000 in Calif. Can I sale my house to my kids for $400,000 and gift them the remainder $200,000 to avoid pay capital gains on the $600,000… read more
ABC Accounting Group
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Trying to understand…I read if your income is zero you owe
Trying to understand…I read if your income is zero you owe no cap. gains Are your gains now defined as income for that year. Selling real estate with a million dollar gain Best way to avoid without 10… read more
Mark Taylor
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Family sold an apartment building for $6M and my cut was
Family sold an apartment building for $6M and my cut was $1.2M. The building was purchased under an LLC and help for 16 years generating rental income. Will this be taxed as income or capital gains?… read more
Mark Taylor
Mark Taylor
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In the 80s, my father bought a large track of land and last
In the 80s, my father bought a large track of land and last year gave a portion of it to me and my husband. We estimate that portion to be worth about $120,000. He is a contractor and built us a house… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
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I'm selling a house in Old Greenwich, CT. million dollars. I
I'm selling a house in Old Greenwich, CT. For 1 million dollars. I owe 400,000.00 on it. How much will I have to pay?… read more
TaxRobin
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There I became a US permanent resident in 2009. Then nearly
Hi there I became a US permanent resident in 2009. Then nearly lost the green card (but they didn't take it) in 2012-13 because we lived in the UK from 2011-14 and we bought a p[roperty there. It was … read more
TaxRobin
TaxRobin
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I am NOT a resident of VA. Do I still have Cap Gains responsibility
I am NOT a resident of VA. Do I still have Cap Gains responsibility in VA? I AM a resident of FL. Do I have Cap Gains responsibility in FL? I thought CAP Gains was not related to my annual Federal tax… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
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Is profit on sale of gifted land (held for over 1 year) considered
Is profit on sale of gifted land (held for over 1 year) considered capital gains? If so, is the profit taxed at the captial gains rate and the employment income taxed separately?… read more
Stephen G.
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Hi. Grandma gifted parcels of land in 2010 and 2011 worth a
Hi. Grandma gifted parcels of land in 2010 and 2011 worth a total of maybe $100k to her daughter. Daughter was giving up a lot of time caring for her so I guess it could be gift or payment of RN care.… 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
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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
We are trying to sell our house. It was our primary residence
We are trying to sell our house. It was our primary residence for 23 years. My brother would like to buy the house on land contract. Is it possible to sell to him on land contract and avoid capital ga… 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

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PhillipB EA

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