Capital Gains and Losses

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We have 3 properties which we wish to liquidate over the
We have 3 properties which we wish to liquidate over the next 4-7 years.Here are the particulars for each property:Property #1 Current use - primary residence Ownership - 37 years Cost basis - $200,00… read more
bkb1956
bkb1956
Enrolled Agent, Paralegal
15,144 satisfied customers
Our second home is in Wisconsin. We have sold the home and
Our second home is in Wisconsin. We have sold the home and long term capital gains are 450,000. My taxable income for 2018 will be 230,000. What would be the tax due on long term capital gain of 450,0… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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We are thinking of selling a rental that we lived in for 10
We are thinking of selling a rental that we lived in for 10 years and then rented out for 10. I know taxes will be terrible, but not sure how to calculate. … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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I'm trying to plan out what would be the most tax advanteous
Hi, I'm trying to plan out what would be the most tax advanteous thing to do with my in-laws' home when they pass away. They purchased this home decades ago for about $25K and it's now worth about $50… read more
levr
levr
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My dad died 5years ago in the will he stated my step mother
My dad died 5years ago in the will he stated my step mother can live there until she sells she gets half the Money me and my sisters get the other half after all the closing and title etc. we ended up… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,992 satisfied customers
I have an "ESPP" stock purchase plan from a previous
I have an "ESPP" stock purchase plan from a previous employer which was based in a Canadian account. I received Canadian forms NR4 and T5008 and have no idea how to enter into my capital gains / losse… read more
bkb1956
bkb1956
Enrolled Agent, Paralegal
15,144 satisfied customers
I reside in California and am participating in an Employee
I reside in California and am participating in an Employee Stock Purchase Plan (ESPP) which allows me to purchase company stock every 6 months at a discount of 15% of the lower price of beginning/end … read more
Anne
Anne
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I on doing my taxes now and on line 43 of 1040, my
I on doing my taxes now and on line 43 of 1040, my taxable income comes to somewhere between 45650 - 45700. And per the IRS tax table, on page 82, my tax (single status) is $7213 for this tax bracket.… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
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I am a Canadian Citizen & bought a condo in vegas a few
I am a Canadian Citizen & bought a condo in vegas a few years ago. We are thinking of selling it now & the price has gone up considerably 60%+-. What kind of taxes ?? if any am I going to face if sold… read more
Jason M. Tyra, CPA
Jason M. Tyra, CPA
Principal
Master's Degree
366 satisfied customers
I am researching a few topics of interest and am running
I am researching a few topics of interest and am running into a few roadblocks. Please answer each section in its entirety, clarify any misconceptions, and add any additional information that you feel… read more
BK-CPA
BK-CPA
Bachelor's Degree
972 satisfied customers
I'm a citizen of Taiwan. In 2005 and 2006, I worked in
Hi, I'm a citizen of Taiwan. In 2005 and 2006, I worked in the US. I joined the company's ESPP plan and bought some shares of the company. I am thinking about selling the shares now. At that time (200… read more
levr
levr
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
I have a real estate rental portfolio that is a sole
I have a real estate rental portfolio that is a sole propiership. I sold one of my properties this year for a gain and am looking for a legitimate way to lower my tax burden. I've completed any needed… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 satisfied customers
I just inherited (###) ###-####in stock's and I cashed them in.
I just inherited (###) ###-####in stock's and I cashed them in. My question is how much will all have to pay for capitol gains… read more
jgordosea
jgordosea
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Bachelor's Degree
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Difference between what foreclosure and shortsale means to
Difference between what foreclosure and shortsale means to homeowner: Short sale: bank would accept off that pays them off and gives second under $15,000 on a $750K line. 1st is 1.3, second 750. Basis… read more
DanielleCPA
DanielleCPA
Certified Public Accountant
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My company offers Employee stocks at 85%. If I invest $8500
My company offers Employee stocks at 85%. If I invest $8500 per year, they buy stocks for me worth $10000. If I want to save on taxes via capital gains (as opposed to short term gains), do I have to k… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 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
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Bachelor's Degree
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Hi - my wife participates in ESPP program with her employer.
Hi - my wife participates in ESPP program with her employer. I just noticed that her employer purchased shares for this quarter. According to the prospectus, the employer should've used a lower price … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,992 satisfied customers
We have lived in current home for 7 years however it was originally
We have lived in current home for 7 years however it was originally purchased by my sister. We lived together for 4.5 years before she married and moved into her own home elsewhere. I have continued t… 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

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

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Over 22 years of tax preparation experience.

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Bill-the-CPA

Certified Public Accountant (CPA)

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Seasoned professional with over 15 years in public accounting. Income, sales and property tax. Also accounting/tax software.

FredStevens

FredStevens

Accountant

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Experienced in business, accounting and tax planning for individuals, small/medium sized businesses and non-profit organizations

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Shane-CPA

CPA, PFS, CGMA

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Shane Northrop is a Certified Public Accountant, Personal Financial Specialist and a Chartered Global Management Accountant

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