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
My wife and I purchased an investment property for 8K. we
my wife and I purchased an investment property for 8K. we spent 45K in rehab costs. have an offer to sell for 67K. If we reinvest the money into another property will we avoid the capital gains tax? … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
3,285 satisfied customers
IF i SELL MY SHARE OF A HOUSE IN CANADA TO BUY A HOUSE IN UK
IF i SELL MY SHARE OF A HOUSE IN CANADA TO BUY A HOUSE IN UK AND MOVE TO LIVE THERE IS IT SUBJECT TO CAPITAL GAINS … read more
Barbara
Barbara
Enrolled Agent, Paralegal
6,440 satisfied customers
I inherited a piece of land when my father passed away
Hi. I inherited a piece of land when my father passed away several years ago. I want to either sell it and give the proceeds to my son or transfer it to him so he can sell it and keep the profits. I w… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,861 satisfied customers
My effective tax rate in 1017 was 6.18 %. In 2018 I will be
My effective tax rate in 1017 was 6.18 %. In 2018 I will be selling several warehouses with my share being 1/3 of gross amount. Totally depreciated. We paid off remaining mortgage prior to distributio… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
3,285 satisfied customers
I bought a property for $100k. I have a buyer for $400k with
I bought a property for $100k. I have a buyer for $400k with owner financing. If I hold a note for $300k do i pay capital gains on $400k?… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
3,285 satisfied customers
Im a 66 year old man who is selling a investment property as
Im a 66 year old man who is selling a investment property as sold and separate property. Giving most of the proceeds to my son to purchase a house. The sale would b reported on wife and my taxes and w… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,861 satisfied customers
I am planning to start a home flipping business. What are
Hi,I am planning to start a home flipping business. What are the best ways to avoid capital gains if I flip the home within an year after renovations. Eg: Home buying price: $500,000 Renovations: $100… read more
PDtax
PDtax
Owner
Master's Degree
4,304 satisfied customers
I bought a townhome in Florida on March 2011 and lived there
I bought a townhome in Florida on March 2011 and lived there until may 2nd 2013. I have been renting it out ever since. I am planning to sell it now.1) the fact that I have used it as my primary resid… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
3,285 satisfied customers
If I invest proceeds from the sale of commercial property
If I invest proceeds from the sale of commercial property into an indexed mutual fund REIT, do I still need to pay the capital gains on the sale or is this considered a transfer? … read more
Robin D.
Robin D.
Vocational, Technical or Trade School
16,186 satisfied customers
Oh, thank you. What are the 2 ways of working out CGT......
What are the 2 ways of working out CGT...... I thought there was a sliding scale...ie.....Year 1, property made $10K, carry forward, Year 2, made $50K....etc... BUT 50% of gain over 30 years seems TOO MUCH … read more
Barbara
Barbara
Enrolled Agent, Paralegal
6,440 satisfied customers
I have a nyc taxi medallion that I bought for 38000 forty
I have a nyc taxi medallion that I bought for 38000 forty years ago. … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,339 satisfied customers
I bought a rental condo with our son a few years ago that we
I bought a rental condo with our son a few years ago that we are 50/50 joint ownership of. It has increased in value by about $40,000. I have repaid him his equity but left him on title, thinking that… read more
PDtax
PDtax
Owner
Master's Degree
4,304 satisfied customers
I own a GAS Station in CT. We are planning on selling the
Hello: I own a GAS Station in CT. We are planning on selling the gas station and currently have an offer in hand. I am trying to find out what kind of taxes will we be liable for on the proceeds?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,803 satisfied customers
I purchased a cumulative preferred share of a private
I purchased a cumulative preferred share of a private company for $14 two years ago. It has accrued $7 dividend which has not been declared yet. The company is still selling the new shares for $14. Th… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 satisfied customers
Australian citizen bought Melbourne property with wife, never
Australian citizen bought Melbourne property with wife, never owned other property in Aus or Uk. Lived 20 years in Uk, sold Melb property and seeking divorce. Does CGT apply to net proceeds ?… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
16,186 satisfied customers
I got paid out on some stock options last year but that ex-employer
I got paid out on some stock options last year but that ex-employer is not providing 1099B forms to any of it's shareholders no longer with the company. Only 1099's to it's current employees. Does thi… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
263 satisfied customers
Will like to know how to lower taxes on capital gains of
Will like to know how to lower taxes on capital gains of $400,000.00 Any help will be appreciated Thanks Barinder Singh… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
We inherited a house from my mother-in-law 2 years ago, at
We inherited a house from my mother-in-law 2 years ago, at a higher value when she passed then when we sold. This was her 2nd house, no liens or mortgages, bought long ago for investment. It took abou… read more
Bill-the-CPA
Bill-the-CPA
Certified Public Accountant (CPA)
Master's Degree
55 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