Capital Gains and Losses

Capital Gains Tax Questions? Ask a Tax Advisor for Answers ASAP

Connect one-on-one with {0} who will answer your question

Related Capital Gains and Losses Questions
I have a primary residence that I live in, I remodeled the
I have a primary residence that I live in, I remodeled the basement to rent it out , my question is can I deduct the expense of the remodel since it is for a Business venture such as rental… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,680 satisfied customers
I live In Los Angeles, California. I had a lot of properties
I live In Los Angeles, California. I had a lot of properties foreclosed in Los Angeles and Orange counties and San Bernardino and Riverside counties. For how many years can I claim the depreciation of… read more
JeffS6413
JeffS6413
Principal/Advisor
Master's Degree
2,424 satisfied customers
Re: depreciation recapture. Residential rental real property
Re: depreciation recapture. Residential rental real property sold after being owned for 6 years. Before sale, septic system had to be repaired (failed septic tank was replaced), and the sale occurred … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,558 satisfied customers
Bought my house for $140.000 in 1995 Have rented it out
Bought my house for $140.000 in 1995 Have rented it out since. Approximate value on it now is about $350.000. I have claimed it on my income tax and have improvements. Just trying to get a general ide… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,558 satisfied customers
I bought a property in UK in 2020 for 147000 pounds. I moved
hi, I bought a property in UK in 2020 for 147000 pounds. I moved to uk in 2009 and rented property. I have paid tax on rental income ever since. I sold property in January for 305000. Will I be liable… read more
Douglas Campos
Douglas Campos
MST, EA
MST
29 satisfied customers
I have a couple of questions: I have lived in my Condo for 2
I have a couple of questions: I have lived in my Condo for 2 yrs and 10 months. I plan on renting it out while I leave the country for 3-5 years for work. If I sell it within 3 years, can I keep the c… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,680 satisfied customers
I own a condo in Hawaii, purchased in 2005 for ~$225k. I am
I own a condo in Hawaii, purchased in 2005 for ~$225k. I am currently selling the property and the sales price is $450k, with closing costs, commisions the net sale will be more like $420k. I'm a US c… read more
DK_CPA
DK_CPA
CPA
Master of Science in Accounting & Taxationb
2,514 satisfied customers
What % capital gain tax would be due on an investment
What % capital gain tax would be due on an investment property in Florida be for the owner who is now living in Oregon which also has state taxes.… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
My wife and I bought a house in 2006, lived in it until
My wife and I bought a house in 2006, lived in it until 2009, could not sell because value dropped 90,000. Rented the house from 2009 - 2017. Tax preparer depreciated property 27.5 years 12,766 per ye… read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
1,341 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
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,558 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
4,197 satisfied customers
I have a client who sold a piece of rental property in 2017.
I have a client who sold a piece of rental property in 2017. The property was originally their primary residence which they paid $135K for the property. When the property was converted to rental prope… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
How much capital gain will I have to pay if I sell a 4 Unit
How much capital gain will I have to pay if I sell a 4 Unit building that I've … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,558 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
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,558 satisfied customers
I sold a 2nd home I owned years in 2015. It was also used
I sold a 2nd home I owned for 13 years in 2015. It was also used for short term vacation rentals. Deprec basis $149,250 / 27.5 years=$5427/yr x 13.15 yrs owned=$71,365. Avg business use=86.44% x $71,3… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,779 satisfied customers
I purchased a 4 family house in Rochester, NY in 2003 and
I purchased a 4 family house in Rochester, NY in 2003 and paid 100,000 for it. The house is under a sale contract for 150,000 and will close in January 2016. I have put on a new roof for 7000 and adde… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,558 satisfied customers
Can you deduct the cost of improvements to a rental property
Can you deduct the cost of improvements to a rental property things that must be done to make it marketable?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,558 satisfied customers
My husbands mother deeded her house to us in approximately
My husband's mother deeded her house to us in approximately 1978, reserving a life-time ownership for herself. She passed away in 1994 at the age of 95 years. we kept and rented the house until we sol… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,779 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:

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

86 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

R. Klein, EA

R. Klein, EA

Enrolled Agent

271 satisfied customers

Over 20 Years experience in resolving tough tax cases

< 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