Capital Gains and Losses

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I am a realtor who would like to understand the general
Hello, I am a realtor who would like to understand the general parameters of capital gains taxes to provide support to a customer. My customer was recently married and has owned a primary residence fo… read more
Barbara
Barbara
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We are doing a 1031 exchange to buy property after the sale
We are doing a 1031 exchange to buy property after the sale of a rental home. The profit from the sale will be about $235,000. There are 2 town homes for sale in our town. We want to live in one and h… read more
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Barbara
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I am selling my property for $400,000 no mortgage and
I am selling my property for $400,000 no mortgage and $165,000 basis. I want to use 1031 exchange to purchase $750,000 property that will be financed. How much money can I finance without having to pa… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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I'm selling a property at that I have owned for 3 years and
I'm selling a property at that I have owned for 3 years and my buyer is also buying my neighbor's property. Since I connected my buyer to my neighbor they agreed to pay me a big profit. Can I take tha… read more
emc011075
emc011075
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I am a MD resident with a rental home in DC. I file a DC
Hello,I am a MD resident with a rental home in DC. I file a DC D-30 every year to pay tax on the rental income I earn in DC. In 2016, I sold the property and had a $200,000 gain. Do I have to pay any … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
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We have a Nevada condo bought for 100,000 (2012) now worth
We have a Nevada condo bought for 100,000 (2012) now worth about 180,000. It is in a trust and rented. We want to sell it and buy another condo for about 140,000. What capitol gains can we expect to p… read more
PhillipB EA
PhillipB EA
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My husband is 81 years old. He is selling a building that
My husband is 81 years old. He is selling a building that has been his office for 14 years. Is there any way to avoid the capital gains tax? Would a generation skipping trust for grandchildren be any … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
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Can I give $400,000 of profits from property sale to builder
Can I give $400,000 of profits from property sale to builder to hold as contingency and avoid capitol gains tax?… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
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I have sold my rental property for $410,000. I have found a
I have sold my rental property for $410,000. I have found a property that I want to exchange but the price is $300,000. So on Form 593-C I checked Part III Box 11. To fix the rental I incurred constru… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
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Another question then. It's about the 1031. I want to
Hi mark. Another question then. It's about the 1031. I want to build the investment property rather than buy one that already exists. While I can certainly use the cost of the land in the 1031 basis, … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
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I'm a real estate agent in Texas and I have a a married
I'm a real estate agent in Texas and I have a a married couple 67 years old each retired on a very fixed income. They inhearted a vacant piece of land back in 1985 and we have found a buyer. They are … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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My father is giving me (maybe when he dies?) a rental property
My father is giving me (maybe when he dies?) a rental property he owns so that I can buy a primary residence for myself. Is a 1031 exchange the way to avoid capitol gains tax on this?… read more
Jonathan Tierney
Jonathan Tierney
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We wouldn't have any depreciation recap or Capitol gains on
We wouldn't have any depreciation recap or Capitol gains on this rental we've had for 10 years? If he sells the property and buys a new one for more he wouldn't have gains either correct? If he lives … read more
Stephen G.
Stephen G.
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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.
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Did you say you needed more details. As stated: I have a
Did you say you needed more details. As stated: I have a rental on the market. My tax guy says the depreciation is "maxed" out. We are presently purchasing another rental in advance - settlement is so… read more
Jonathan Tierney
Jonathan Tierney
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295 satisfied customers
We purchased a rental property in1997 for 140k added on 3 lrg
We purchased a rental property in1997 for 140k added on 3 lrg additions costs totaling 345k more then over the years depreciated 93k we sold it in april 2012 for 500k, we set up in 1996 a business for… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
263 satisfied customers
My mother wants to give me her small rental trailer park and
My mother wants to give me her small rental trailer park and 2 other seperate rental lots. If she gives them to me will I have to pay capitol gain taxes? Only one lot is rented out as she's no longer … read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
263 satisfied customers
I might sell a commercial building for $900,000.00 and I would
I might sell a commercial building for $900,000.00 and I would like to know what the capitol gains tax would be? My Dad left this building (3 units include 1 apt & 2 office units) to my 2 sisters 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

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PhillipB EA

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