Capital Gains and Losses

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Many years ago (15?) I lost about 40K in stock trades. Soon
Many years ago (15?) I lost about 40K in stock trades. Soon after my income shifted and I had no capital gains to offset this loss. The carryover helped at times, but last filing (2016) I still had mo… read more
TaxRobin
TaxRobin
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Vocational, Technical or Trade School
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I had purchased a stock last year, which is now at a loss.
I had purchased a stock last year, which is now at a loss. If I sell it now at a loss, and that negative amount is more than my income for the year, then what happens? Is it something called net opera… read more
Alexander Efros
Alexander Efros
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I have a capital gain of 100,000.00 and sitting on a capital
I have a capital gain of 100,000.00 and sitting on a capital loss of 225,000 from prior years do I have to pay a capital gain or can I use the 225,000 to offset the 100,000 gain? … read more
TaxRobin
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I have a question regarding Schedule D. Let's use my 2013
I have a question regarding Schedule D. Let's use my 2013 tax return as an example. Is the amount on line 15 the amount carried forward from the PREVIOUS year or what will be carried forward to the 20… read more
levr
levr
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My parents have a joint brokerage account. They are wanting
My parents have a joint brokerage account. They are wanting to include me into the account, Is it possible for them to include me into the account? If so, would the realized loss I acquired from 2016 … read more
levr
levr
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I have received an AUR notice for missing capital gains in
I have received an AUR notice for missing capital gains in 2015. The IRS estimated a $20,000 capital gain from sale of stock, with a balance of around $8,000. The root issue was due to wash sales that… read more
Brian Michels, CPA
Brian Michels, CPA
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I inherited a house when my mother passed away in 2012. The
I inherited a house when my mother passed away in 2012. The house sold in 2016 for less than the appraised fair market value in 2012 at the time my mother passed away. I want to take a capital loss on… read more
levr
levr
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The business capital loss limit is $3K per year. What is it
The business capital loss limit is $3K per year. What is it for a business and are there other specific factors in any limitations? Size of business or revenue, for example.… read more
levr
levr
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I have a PFIC related question. I elected market-to market
I have a PFIC related question. I elected market-to market status in regards ***** ***** with the IRS. Can I carry losses forward ? For example 2015 Bought 400 shares avg $40, sold them for$20 2016 Bo… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
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In 2014, I had a net short term capital loss of approx.
In 2014, I had a net short term capital loss of approx. $54,000, line 7 of my schedule D. In 2015 I had did not buy nor sell any stocks and had no gains nor losses. Can I still carryover my loss and c… read more
CGassist.168
CGassist.168
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I have a client who owns an S-Corp. The S-Corp has a debit
I have a client who owns an S-Corp. The S-Corp has a debit payable to the prior owner of the business. The prior owner is going to cancel the remaining balance on the debit (approx $150k). Is this goi… read more
levr
levr
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Bachelor's Degree Equivalent
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We have been carrying a lot of capital loss from 2008 able
We have been carrying a lot of capital loss from 2008 able to deduct only $3K each year. I have a rental house (a duplex, which I don't live in) that I would like to sell to myself at its current (app… read more
TaxRobin
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All the heirs of our 1st cousins probated estate recieved
All the heirs of our 1st cousins probated estate recieved from the cpa a form showing $900 long term capital gains tax. Si is this simply 15% on $900? I can use 900 of a stock loss of $4,000 in 2009 t… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
263 satisfied customers
If I have a capital loss accumulated from prior years and qualify
If I have a capital loss accumulated from prior years and qualify for zero capital gain tax will my capital loss credit still be used to offset the capital gain?… read more
jgordosea
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I have realized capital losses as an individual U.S. Citizen
I have realized capital losses as an individual U.S. Citizen for the years of 2011 and 2012, both of which were substantially greater than the $3,000/yr limit which an individual is allowed to deduct … read more
jgordosea
jgordosea
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This year I exercised most of my company stock options allocated
This year I exercised most of my company stock options allocated to me by my company on which I have paid good amount of tax when I exercised those options. I am also carrying forward a huge capital l… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
263 satisfied customers
I have a large amount of capital losses from some bad stock
I have a large amount of capital losses from some bad stock market investments from the past few years. But I no longer have much invested in the stock market. Is there any way to monetize that capita… read more
Bill-the-CPA
Bill-the-CPA
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I owned a lot in NM and was required to sell it as a result
I owned a lot in NM and was required to sell it as a result of a county condemnation procedure. I received a 1099-S form related to this sale. The sale to the county resulted in a capital gain. Two qu… read more
Bill-the-CPA
Bill-the-CPA
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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

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Arthur Rubin

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Bill-the-CPA

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FredStevens

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Shane-CPA

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

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