Capital Gains and Losses

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I owned a house before I got married. I got married and
I owned a house before I got married. I got married and turned it into a rental in 2017, and purchased another house at the same time with my husband, which we homesteaded. Husband ended up being an a… read more
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I have a real estate property that I'm looking to use to
i have a real estate property that I'm looking to use to form a lcc with my mother (currently a rental property, she intends to live there and pay off the remaining mortgage of $140k, house appraised … read more
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I have a tax question about capital gains. Can you help with
I have a tax question about capital gains. Can you help with that? … read more
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We bought a condo in CA, lived in it for 19 months. Didn't
We bought a condo in CA, lived in it for 19 months. Didn't like it and sold it ($310k purchase - $390,000 sale). Will we need to pay capital gains since we didn't live there 2 full years? … read more
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When one stock mergers with another stock, that you have
Hi When one stock mergers with another stock, that you have held for a long time, I had a capital gain (1stin1stout). however I suffered a loss on the total value of the stock in the end. Since I am h… read more
Stephen G.
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Gains on parents home can I buy a retirement motorhome with
Gains on parents home can I buy a retirement motorhome with that money and not pay capital gains. Also can I finance part of that so I can keep some money to fix repairs on my residence badly needed.… read more
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If I sell a part of my property and keep my primary home
If I sell a part of my property and keep my primary home attached to the other property to fund my retirement do I have to pay Capital Gains Taxes on the sell of that monies . I am 62 yrs of age and m… read more
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I moved to a retirement community and I gave my house to my
I moved to a retirement community and I gave my house to my children. My children wanted to keep the house they grow up in. We are selling my daughter's house instead. The plan is for her repay me the… read more
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I owned a house year and rented it year; is there any way to
I owned a house for one year and rented it for one year; is there any way to get around the capital gains tax or at least reduce it? My understanding is I would have had to live in the house as my pri… read more
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We purchased a home in VA in March, 1988 for $125,000. We
We purchased a home in VA in March, 1988 for $125,000. We refinanced our home in 2003 when the value of our home was high, we were both working, and were financially able to pay. In 2008 we purchased … read more
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If I am selling a home that was financed in my mother's name
If I am selling a home that was financed in my mother's name but I paid all the mortgage payments and etc, and she passed away 10 years ago and I have been renting it to a friend and his wife who are … read more
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how is the basis of a residential property derived at and a
how is the basis of a residential property derived at and a commercial property derived at for capital gains purposes at sale? do improvements increase the basis? do you depreciate a residence? how ab… read more
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What is the capital gains on land sold on land contract in
What is the capital gains on land sold on land contract in Wisconsin? The sale was dec.1, 2012 and we received 900.00 payment in dec. how much do we pay on our Wisconsin state tax for capital gains?… read more
R. Klein, EA
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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
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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
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good afternoon. we are hoping to sell my mothers house - she
good afternoon. we are hoping to sell my mothers house - she is 79 and its just too big for her. She has limited income, but the house is on 20 acres and in total is worth close to $500,000. we have t… read more
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Someone had previously lived at a home then moved away 3.5
Someone had previously lived at a home then moved away 3.5 years ago. Upon selling the home, it was stated that since he live in the home most of the time owned, he did not have to pay capitol gains t… read more
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I had a rental house in Arizona. I live in Washington. I sold
I had a rental house in Arizona. I live in Washington. I sold it as a Short Sale in July 2011 for 66,000.00 the mortgage was for 168,000.00. Will I be taxed as a capital gain? if so for how much? Can … read more
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R. Klein, EA

R. Klein, EA

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