Capital Gains and Losses

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Related Capital Gains and Losses Questions
When ***** and ***** bought in Tax changes on Capital Gains
When John ***** and Peter ***** bought in Tax changes on Capital Gains Tax concessions in 2006 -7 if family business's were past onto the next generation and worked and held on for at lest 10 years th… read more
Arthur Rubin
Arthur Rubin
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My mother died in 1989. She had interest in a 100 ac farm
My mother died in 1989. She had interest in a 100 ac farm land with other family memebers. In 2016 the family was forced to sell the property due to health reasons of my mothers sister who lived and m… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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I've owned my house since 1982 and remarried in 1996. I
I've owned my house since 1982 and remarried in 1996. I rented by house for approx 17 yrs. My husband passed away on 9/22/2016. I moved out of the marital home last month after 20 yrs. I live with my … read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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I inherited 60 acre farm from my father 2010. I sold that
I inherited 60 acre farm from my father 2010 . I sold that property 2016. I do not know the valve of the property when he passed. I think I will have to pay gain only . … read more
Mark Taylor
Mark Taylor
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My primary residence has a home and 100 acres. Bought it
My primary residence has a home and 100 acres. Bought it over 10 years ago. We subsidized and sold 70 acres and retained the 30 plus the home. Reinvested the proceeds into reducing the mortgage on the… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
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In 2013 my mom gave a 28 acre farm to my son (disabled) and
In 2013 my mom gave a 28 acre farm to my son (disabled) and me because we were caring for her until her death July 2015. This year I sold 9 acres. I want to sell 10 more. We live in a double wide on p… read more
Rick Martin
Rick Martin
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I am inheriting 1/3rd of land originally willed in 'life
I am inheriting 1/3rd of land originally willed in 'life estate' by my grandfather to his children and then 'per stirpes' to their issue. My grandfather died in 1970. Land has been farmed and all taxe… read more
Stephen G.
Stephen G.
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I am selling my farm for 280000. I have loan against it for
I am selling my farm for 280000. I have loan against it for 120000. If I pay off loan will this come off total saying price for capital gains tax?… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
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My husband and I own farm land in IL. The farm was gave to
My husband and I own farm land in IL. The farm was gave to him from his mother she owed 180,000.00 on it. We now owe 230,000.00. We are wanting to sell it, we are asking 1,500,000.00 for it. What kind… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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I heard that you can sell a house one time in lifetime and
I heard that you can sell a house one time in lifetime and not have capital gains? I am not sure I am stating it correctly. My husband always did taxes and he passed away. 5 yrs later now I sold my ho… read more
PhillipB EA
PhillipB EA
Accountant
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I moved from Indiana to Nevada in May 2014 transferring
Hi I moved from Indiana to Nevada in May 2014 transferring my USPS job. I sold my primary residence in Sept for 135000. After paying the mortgage and fees... I realized about 60,000 dollars.I used it … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
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my 91 yr old mother has a home in massachusetts that is in
my 91 yr old mother has a home in massachusetts that is in her revocable trust. the home is now owned by her 4 adult children. my father put it in all our names decades ago. the home is paid for in fu… read more
PhillipB EA
PhillipB EA
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Bachelor's Degree
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my mom recently passed away. She had gave all her land to
my mom recently passed away. She had gave all her land to us children 7 yrs ago and had a life time right to her house. Will we have to pay capital gains tax from when my mom and dad purchased farm in… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
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Follow-up question on Capital Gains Taxes: Could you define
Follow-up question on Capital Gains Taxes: Could you define "commercial enterprise" ? We cash rented our farm ground to a farmer and claimed this income on our taxes. Is this considered a commercial b… read more
R. Klein, EA
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What will be our, myself and 2 sisters Capital Gains Tax on
What will be our, myself and 2 sisters Capital Gains Tax on a 300 Acre farm that we will inherit and possibly sell in the future? The farm has been in the family since 1860.… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
263 satisfied customers
In 2009 upon my uncles passing my sister, dad, and I inherited
In 2009 upon my uncles passing my sister, dad, and I inherited equal shares of his 120acres=fair market value $1100 an acre. September 3, 2011 my father passed away and his adjoining 120acres appraise… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
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263 satisfied customers
My brother and I are considering accepting an offer on a small
My brother and I are considering accepting an offer on a small piece of property(about 1/5 of an acre) on which several cell tower companies are located. We have been receiving rent of around $1,500 a… read more
FredStevens
FredStevens
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Bachelor's Degree
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If we inherited a small farm house and about 200 acres of land
If we inherited a small farm house and about 200 acres of land from our dad when he passed and we don't live there (three kids, three different states), do capital gain taxes apply like it was your pr… read more
Bill-the-CPA
Bill-the-CPA
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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

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