Capital Gains and Losses

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We built a home mortgage free in which we invested $250,000.
We built a home mortgage free in which we invested $250,000. If we sell the home for $150,000 through a contract for deed with a monthly installment of $700 for two years, at which time the final paym… read more
emc011075
emc011075
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My sister purchased a house about 35 years ago and resentful
My sister purchased a house about 35 years ago and resentful past away. The estate was sold for $550,000. What would be capital gains tax to pay? … read more
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Chad EA, CDFA®, CFP®
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I have a duplex (rental property) that was discharged in a
HI, I have a duplex (rental property) that was discharged in a 2012 bankruptcy. I did not reaffirm the home. The home has been foreclosed upon, which is ok with me. I just want it to go away. My tenan… read more
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We are doing a 1031 exchange to buy property after the sale
We are doing a 1031 exchange to buy property after the sale of a rental home. The profit from the sale will be about $235,000. There are 2 town homes for sale in our town. We want to live in one and h… read more
bkb1956
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Help me calculate Federal and California capital gains taxes
Please help me calculate Federal and California capital gains taxes assuming I have NOT lived in my California house for 2 out of 5 years in two scenario's. Bought 2012 with cost basis of $275K. Selli… read more
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Last year we sold my mothers house after she went into the
last year we sold my mothers house after she went into the nursing home. the house was quit claim deeded to me and my brother in 1998 with a life estate. my parents bought the house in 1991. my father… read more
levr
levr
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I converted my condo to a rental in 2010. The FMV was
I converted my condo to a rental in 2010. The FMV was $235,000 which was used to calculate depreciation. I converted my condo back to personal use for one year (2015-2016) I converted my condo back to… read more
levr
levr
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I am selling my property for $400,000 no mortgage and
I am selling my property for $400,000 no mortgage and $165,000 basis. I want to use 1031 exchange to purchase $750,000 property that will be financed. How much money can I finance without having to pa… read more
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Stocks were transferred from one person account to the other
Stocks were transferred from one person account to the other person account. Can a person to whom the stocks were transferred then sell these stocks immediatly upon transfer and claim capital gain to … read more
levr
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I am contemplating selling my rental property that I have
Hello. I am contemplating selling my rental property that I have had for several years. I paid roughly $95k for the property in the 90s and can sell it for $249k. There is a 53k Heloc against the prop… read more
TaxRobin
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Am in the midst of a 1031 exchange that involved selling one
Am in the midst of a 1031 exchange that involved selling one property and purchasing multiple replacement properties. Am unclear regarding exact calculations to determine if I am actually reinvesting … read more
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I want to know how much i have to pay in taxes for a
I want to know how much i have to pay in taxes for a property that i sold … read more
levr
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In calculating capital gains on sale of home in California
In calculating capital gains on sale of home in California is the outstanding balance of the mortgage on the primary residence subtracted from the gross sales price to arrive at net sale price? ie. Sa… read more
Dr. Fiona Chen
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I purchased my home in 1972 for $17,000. It has been my
I purchased my home in 1972 for $17,000. It has been my principal place of residence since then. I am considering demolishing the house, and building a duplex ( 2 residences with separate title each).… read more
emc011075
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We moved to Charlotte approximately 18 months ago and
We moved to Charlotte approximately 18 months ago and purchased a home. The office where I have worked is now going to be closed but the company has offered to move me back to their headquarters in Po… read more
Stephen G.
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I have a few questions about 1031 exchange state of
Hello, I have a few questions about 1031 exchange for the state of Colorado. If I sell a rental property i own and want to exchange it and buy my brother en laws rental property is that ok? What if hi… read more
TaxRobin
TaxRobin
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We are selling our cottage that we have owned yrs. ourchase
We are selling our cottage that we have owned for 16 yrs. ourchase price was $67000.00. We have made many improvements totalling $150,000.00. We plan on selling for $ 235,000. Are we responsible for a… read more
CGassist.168
CGassist.168
Principal
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Approximate facts:House A - 2-Family Rental Duplex purchased
Approximate facts: House A - 2-Family Rental Duplex purchased in 1995?originally for $67,000, refinanced once or twice and depreciated over years at either 50% or 100%. Originally, 1/2 owner occupied … read more
levr
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