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 question regarding inherited LLC and 754 step-up
I have a question regarding inherited LLC and 754 step-up basis. … read more
DK_CPA
DK_CPA
Master of Science in Accounting & Taxationb
211 satisfied customers
Do the assets inside a personal holding company or a family
Do the assets inside a personal holding company or a family limited partnership, owned 100% and 65.35% respectively by a grantor trust, receive a step-up in basis at the date of death of the grantor? … read more
PDtax
PDtax
CPA firm owner
Master's Degree
5,236 satisfied customers
I inherited a business in 2007. The value was not changed
I inherited a business in 2007. The value was not changed and still shows the original cost on all tax filings. The assets were sold last year. An appraisal was completed in 2007. How can I get the va… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,340 satisfied customers
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.
Sr Financial & Tax Consultant
Bachelor's Degree
6,647 satisfied customers
Long store unfortunately, do you have a few minutes, My
Long store unfortunately, do you have a few minutes … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,773 satisfied customers
My uncle's Estate sold s house last year. The sales
My uncle's Estate sold his house last year. The sales agreement required us to renovate the driveway. That expense would normally be applied to the cost basis; however, we didn't get it finished durin… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,647 satisfied customers
I have a client that has an LLC with multiple members. The
I have a client that has an LLC with multiple members. The members consist of investors of whom receive annual distributions with 1 member acting as the general partner which is an S-Corp owned by 1 i… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,647 satisfied customers
I'm. I need advice from a NJ tax professional. This is
Hi I'm Roger. I need advice from a NJ tax professional. This is specific to NJ taxation of a partnership's gains on selling its only asset (property), and how the partnership accounts for the gain bec… read more
Jason M. Tyra, CPA
Jason M. Tyra, CPA
Principal
Master's Degree
168 satisfied customers
My spouse purchased a farm for $ 64000, then upon our
My spouse purchased a farm for $ 64000, then upon our marriage added my name to the title as joint tenancy. He then died and I am selling that farm for $200000 (in the state of Missouri). How do I cal… read more
Tax.appeal.168
Tax.appeal.168
Principal
5,012 satisfied customers
LLC member sold interest to general member. LLC has accounts
LLC member sold interest to general member. LLC has accounts receivable. Capital value is negative and sold for $1. How to show this transaction on form 1065 & both member's K1s.… read more
PDtax
PDtax
CPA firm owner
Master's Degree
5,236 satisfied customers
How do I get the partnership tax balance sheet to balance
How do I get the partnership tax balance sheet to balance and have the negative capital accounts of the selling partners be zero? I am preparing a partnership tax return for 2013. Some of the partners… read more
BK-CPA
BK-CPA
Bachelor's Degree
919 satisfied customers
My Mother in law owns an acreage with her residence on it ,
My Mother in law owns an acreage with her residence on it , and we have also lived their for 22 years, and helped look after the acreage. If she sells the property that is in Alberta, will she have to… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,773 satisfied customers
My Father passed away in mid-2014 in California. I am the
My Father passed away in mid-2014 in California. I am the executor of his estate as well as a Co-Trustee (equally with my two brothers) of his Family Trust. My question surrounds the capital gains tre… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,647 satisfied customers
My sister put her house in San Francisco into a revocable
My sister put her house in San Francisco into a revocable trust in 2013. At that time it was worth $940k. The house was purchased 20 yrs ago for $300k. She died in November. I am the trustee. I am wor… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,647 satisfied customers
My mother owned a property in Virginia which was her primary
My mother owned a property in Virginia which was her primary residence. She died in Aug. 2010 leaving the home in a trust and my sister as the trustee. The home was valued at $414,480. at the time of … read more
Shane-CPA
Shane-CPA
CPA, PFS, CGMA
11 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
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
Accountant
Bachelor's Degree
37 satisfied customers
I was told that I needed to sell my fathers home no later
I was told that I needed to sell my father's home no later than 6 months after his date of death in order to avoid capitol gains tax ( my mother has long since deceased ). December 4th will be exactly… read more
S-Drouillard-CMA-MBA
S-Drouillard-CMA-MBA
Retired
Master's Degree
2 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