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
In 2012 we gave a house we owned to our son for a dollar, he
In 2012 we gave a house we owned to our son for a dollar, he recently deeded the house back to us for one dollar now we have sold the house for 90000. dollar. We purchased the house in 1976 for 32000.… read more
Carter McBride
Carter McBride
LLM
3,144 satisfied customers
My mother sold my brother and I her house for $1.00 in
My mother sold my brother and I her house for $1.00 in (approximately) 1999 (we have a quitclaim deed). She continued to live in the house until she had to move into a nursing home in 2008. My brother… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
6,028 satisfied customers
My wife took ownership of her fathers house in 04 just to
My wife took ownership of her fathers house in 04 just to help him out no money changed hands. As sothis was not a part of his estate. Now a few years after his death she is selling it. How is the cap… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
6,028 satisfied customers
My dad had put the house he owned into a trust. He did this
My dad had put the house he owned into a trust. He did this while still alive. He has since passed. The house was sold after he passed away. It sold for $135,000.00 in the state of CT. It was original… read more
levr
levr
Retired
Bachelor's Degree Equivalent
30,472 satisfied customers
My husband died in January. We had a commuter marriage - he
My husband died in January. We had a commuter marriage - he kept an apartment in San Francisco because he worked there four days a week and myself and the children live in Southern California. I sold … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
6,028 satisfied customers
If my dad who is a foreign citizen living in a foreign
Hello, If my dad who is a foreign citizen living in a foreign country, gives me a house as a gift in that foreign country, is there a special form to fill, and, is there a tax on this for me? Right no… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
8,382 satisfied customers
I'm a foreigner who buys a house in the US for more than ten
Hello, I'm a foreigner who buys a house in the US for more than ten years, My home is located in San Jose, California. I just sold my house at $800,000, but by the time closing, it state that there is… read more
taxmanrog
taxmanrog
Master's Degree
2,946 satisfied customers
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
TaxRobin
Tax Preparer
Vocational, Technical or Trade School
18,805 satisfied customers
If my parents gave me a house $0 gift on nov 2015 and i sold
if my parents gave me a house $0 gift on nov 2015 and i sold the house on 2016. what would be my capital gain and how much would i be taxed on if the value of the home on nov 2015 was $189k and the ho… read more
Jason M. Tyra, CPA
Jason M. Tyra, CPA
Principal
Master's Degree
366 satisfied customers
Years ago, sold primary resident. Shortly after, paid cash
Years ago, sold primary resident. Shortly after, paid cash for small house ($280,000). Used house as rental shortly after purchase. Few years later, divorced. I got small house (rental) and financed $… read more
levr
levr
Retired
Bachelor's Degree Equivalent
30,472 satisfied customers
Next year, I will be selling a house that will give me a
Next year, I will be selling a house that will give me a gain. I will also be selling a house in another state that will result in a loss. Can I subtract the amount I lose on the second house from the… read more
PhillipB EA
PhillipB EA
Accountant
Bachelor's Degree
130 satisfied customers
My mother (US Citizen) and mother-in-law (Canadian) want to
My mother (US Citizen) and mother-in-law (Canadian) want to distribute their assets before their death. They want to buy a house for our child, that we can live in (for a reduced rent). What is the be… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
263 satisfied customers
We sold our mothers home after she died. The home was in the
We sold our mothers home after she died. The home was in the names of the four children. She gave over the deed years ago and just lived in the house. After her death the house sold for $95,000. We di… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,972 satisfied customers
I have a $1 million loan on a $2 million house. I became disabled,
I have a $1 million loan on a $2 million house. I became disabled, could no longer work, and now I'm living on social security in a small rented apartment because I can't afford the house payments. I … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,106 satisfied customers
I am an retiree, and am have a rental house and planning to
I am an retiree, and am have a rental house and planning to sell the house to move to another country, do I have to pay any capital gain on the house after I sold it?… read more
PhillipB EA
PhillipB EA
Accountant
Bachelor's Degree
130 satisfied customers
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
We purchased a home in July of 2011. The home purchased was
We purchased a home in July of 2011. The home purchased was a foreclosure. We decided to keep the home we previously lived in and gift it to our Daughter and Son-in-law. They have decided to move out … read more
MyVirtualCPA
MyVirtualCPA
Master's Degree
30,094 satisfied customers
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
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