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 sold a condo (1031 exchange didn't exactly work out this
i sold a condo (1031 exchange didn't exactly work out this time) i will have capital gain. in the same year I bought a different building and put in a lot of capex. say if i have capital gain of 50K, … read more
Robin D.
Robin D.
Vocational, Technical or Trade School
16,188 satisfied customers
My wife and I purchased an investment property for 8K. we
my wife and I purchased an investment property for 8K. we spent 45K in rehab costs. have an offer to sell for 67K. If we reinvest the money into another property will we avoid the capital gains tax? … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
3,316 satisfied customers
Capital gain assets of $175,000 from sale of family property
Capital gain assets of $175,000 from sale of family property deposited into my account. I must divide it with three other siblings. How do I make each sibling responsible for capital gain tax on their… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
3,316 satisfied customers
If you sell your property within 6 months at a profit but
If you sell your property within 6 months at a profit but buy a more expensive property ( primary residence in both cases) ; … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,924 satisfied customers
I'm exchanging a deed for another deed. Do I just sign it
I'm exchanging a deed for another deed. Do I just sign it over to the other owner and visa versa? Does an escrow company or a title company handle this? Do I need to report anything? I bought the prop… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,773 satisfied customers
We are about to sell two properties. The first is a rental
We are about to sell two properties. The first is a rental property townhome that used to be my wife's home before we were married three years ago. Gains on that property will probably be around $150-… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
16,188 satisfied customers
I have a client who is in a house flipping business. In 2016
I have a client who is in a house flipping business. In 2016 he bought property for 700K and spent 300K on renovation. In 2017 he spent another 200K on renovation and sold the property for 1,400,000 d… read more
Carter McBride
Carter McBride
LLM
1,523 satisfied customers
Im a 66 year old man who is selling a investment property as
Im a 66 year old man who is selling a investment property as sold and separate property. Giving most of the proceeds to my son to purchase a house. The sale would b reported on wife and my taxes and w… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,924 satisfied customers
Me and two friends purchased a NJ property for $60 000
Me and two friends purchased a NJ property for $60 000 during Mart 2016 with intention to fix and flip. We registered LLC but the money we transferred to the LLC weren't seasoned and the bank wanted u… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,340 satisfied customers
I will owe capital gains on property that we sold last Feb.
I will owe capital gains on property that we sold last Feb. we also purchased some lake property last May but now due to family issues, we are going to put it up for sale. We paid $230,000 for the pro… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
3,316 satisfied customers
I purchased an investment property about eight years ago.My
I purchased an investment property about eight years ago.My basis is about 72k. My sister has lived in the home the entire time. I receive Mo rent, she pays the monthly mortgage which includes propert… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
2,214 satisfied customers
I have a single member LLC that purchases, rehabs, and sells
I have a single member LLC that purchases, rehabs, and sells real estate. All properties sold last year were held less than 1 year. Should I report them on Schedule D or treat as ordinary income (ente… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
16,188 satisfied customers
I did some research and found the following: "Q: A
I did some research and found the following: "Q: A non-resident seller/grantor has submitted the required estimated gross income tax payment on the sale of real property in New Jersey, but believes he… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,921 satisfied customers
I own a condo in Ca. I live (rent apt.) in Texas. I loose $$
I own a condo in Ca. I live (rent apt.) in Texas. I loose $$ every month on my condo. I would like to sell it and buy something in Texas. I have $30,000.00 in credit card debt. I would like to pay off… read more
Arthur Rubin
Arthur Rubin
Tax Preparer
Doctoral Degree
77 satisfied customers
What is the capital gain tax on selling a secondary home. never
What is the capital gain tax on selling a secondary home. never lived in it, we took ownership from a parent when it was about to be foreclosed on about 15 years ago. He is deceased and we want to liq… read more
Tax.appeal.168
Tax.appeal.168
Principal
5,012 satisfied customers
My ex wife and I owned a home jointly and after divorcing,
My ex wife and I owned a home jointly and after divorcing, we both moved out and converted it to a rental property. During that time I handled all income, taxes and deductions on the property as I pai… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
263 satisfied customers
Hi,I am looking at buying an apartment as an investment in
Hi, I am looking at buying an apartment as an investment in the UK – below £200,000. I am an overseas investor. I wish to rent it out for a nominal rent to a family friend; and, perhaps, at some point… read more
Sam
Sam
Tax Consultant
Higher Officer HMRC
6,577 satisfied customers
Currency exchange - foreign currency to USD. Many have speculated
Currency exchange - foreign currency to USD. Many have speculated on the tax rate the IRS will put on this exchange from profits realized. Some say 0%, some say 15% across the board and some say 35% d… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 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