Capital Gains and Losses

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I need financial advice. If I invest in Berkshire Hathaway
I need financial advice. If I invest in Berkshire Hathaway Class B stock for greater than a year, since they do not pay a dividend, do I only pay long term capital gain for federal taxes? I live in Fl… read more
emc011075
emc011075
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I recently sold a property. The sale price was $835k. The
I recently sold a property. The sale price was $835k. The cash payout from fire damage was $447k.The adjusted basis of property is aprox $382k.What would I owe for federal tax and CA? And when should … read more
emc011075
emc011075
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Chad, On December 9th, you helped me out with some good
Good day Chad,On December 9th, you helped me out with some good answers regarding my 2017 income tax. Now I'd like to finalize my numbers. I have to determine whether or not I need additional capital … read more
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I'm an F1 student (less than 5 years) on OPT employment, I
I'm an F1 student (less than 5 years) on OPT employment, I traded stocks on Robinhood with losses and received consolidated 1099-B with adjustments(wash sale), should I submit 8949 with all transactio… read more
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In a 1 person S-corp, can expenses be deducted against term
In a 1 person S-corp, can expenses be deducted against long term capital gains? The reason I ask is because for my specific situation, paying myself a bigger salary (an expense) is more favorable tax-… read more
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I had unvested company stock from my company that when company
I had unvested company stock from my company that when company merger occurred in November which forced mandatory sale and looks like repurchase with new company. I am seeing a long term gain for one … read more
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I bought 1/2 position in 2012 and another 1/2 position in
I bought 1/2 position in 2012 and another 1/2 position in 2014. The stock was merged/taken over in 2015. The merger was 1 for 1 and an additional 16.50 in cash. I sol not shares. My 1099 form stated t… read more
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How do I determine basis and tax bracket gains owner
how do I determine basis and tax bracket for capital gains for an owner occupied duplex where I've basically taken all the depreciation deductions… read more
Robin D.
Robin D.
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I have a K-1 from an investment fund (limited partner) - and
I have a K-1 from an investment fund (limited partner) - and "Box 11 Other income (loss)" Code A has a footnote that lists Dividend Income, Interest Income, Net Long-term capital loss, Net Section 123… read more
PhillipB EA
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Please notify someone to contact yahoo. I own mutual fund gaucx
Please notify someone to contact yahoo. I own mutual fund gaucx . yahoo made a mistake on the history price pages now listing gaucx as paying .14 cent a share when it still pays .07 cents a share. Aft… read more
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This is about an investment club. It is set up as a
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To Lane, JD,CFP,MBA. Lane, My accountant is out of town.I
To Lane, JD,CFP,MBA. Hi Lane, My accountant is out of town.I need to transfer all of the income from one of my trusts to my personal bank account to eliminate any tax liability for the trust.I was not… read more
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I am 68 years old and I acquired my mothers house approximately
I am 68 years old and I acquired my mothers house approximately 20 years ago. I am planning to sell the house soon. Will I have to pay capital gains tax?… read more
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I'm a real estate professional who has previously had real estate losses offset ordinary income. I am the sole beneficiary & trustee of my deceased mother's Trust. That trust owns a property with a ga… read more
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I RECEIVED AT K-1 ON MY MOTHERS ESTATE, MY TOTAL AMOUNT WAS
I RECEIVED AT K-1 ON MY MOTHER'S ESTATE, MY TOTAL AMOUNT WAS $280,000 FROM THE SALE OF THE FARM LAND. ON THE K-1 LINE 4a I have a $71,500 net long-term calpital gain. Do I have any duduction to this g… read more
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We sold some standing timber last year and were given a tax for from the forestry co. listing the sale as a real estate transaction proceed ( 1099-s). How do I file this on our tax form?… read more
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R. Klein, EA

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