Capital Gains and Losses

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Related Capital Gains and Losses Questions
I live in Color and pay tax in Colorado. I live in Colorado
I live in Colorado and pay my taxes in Colorado. I have a $1,800,000 capitol loss carryover from stock losses in the 2008 market crash. The carry over never expires. I sold some commercial real estate in New Hampshire in 2020 for $900,000 capital gain. On my Federal return i already know that i will pay no capital gains tax. My question is do I owe any taxes in my home state of Colorado or do my capital loss carry over offset my capital gains at the Coloradp state level too?? … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
9,928 satisfied customers
I had a very small amount of capital loss last year, which
I had a very small amount of capital loss last year, which was deducted from my income last year. All my income was dividend income, again a small amount. Now I see that the tax software carries that … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,599 satisfied customers
For NJ State taxes (not Federal taxes), can u offset capital
For NJ State taxes (not Federal taxes), can u offset capital gains on sale of rental property with passive loss carried forwards from past losses associated with this rental property? Or can u only ad… read more
JeffS6413
JeffS6413
Principal/Advisor
Master's Degree
2,437 satisfied customers
I have a carry forward tax question. I have been married for
I have a carry forward tax question. I have been married for 5 years and I am in a divorce waiting on the court date. I plan on filing without her as an individual for 2019. Can she access my carry fo… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,260 satisfied customers
Schedule D. if you have a loss on line 15 how can you carry
schedule D. if you have a loss on line 15 how long can you carry it. do you have to deduct 3000 every year. even if you have a lower income than your deductible. how much can you deduct if you have a … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,260 satisfied customers
I had a capital loss in 2018 and also margin interest (that
Hello, I had a capital loss in 2018 and also margin interest (that I wasn't able to take due to the capital loss). Assuming I have capital gains in 2019, would there be any watchouts to using the carr… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,702 satisfied customers
We have a 22 year-old who attends collage and had NO income
Hello, We have a 22 year-old who attends collage and had NO income in 2018.This year I am considering including him as dependent, BUT… He managed to get capital losses in 2018 and capital gains in 201… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,920 satisfied customers
I read on internet that under new tax law the NOL can only
i read on internet that under new tax law the NOL can only be carried forward... but the linkhttps://www.irs.gov/publications/p536#en_US_2017_publink1000177379still says by default we start from 2 yea… read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
1,341 satisfied customers
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
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
1,341 satisfied customers
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
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
Does Massachusetts treat term gains and carry over losses
Does Massachusetts treat long term gains and carry over losses differently from the Feds?I have had unused long and short term capital losses that have carried over for years on the Federal form (D). … read more
Barbara
Barbara
Enrolled Agent, Paralegal
21,360 satisfied customers
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
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,599 satisfied customers
I'm having trouble transferring some of my 2014/2015 tax
Hello, I'm having trouble transferring some of my 2014/2015 tax data over to my new tax forms on TaxSlayer. I have a draft 1040 complete. But, I'm not sure it's right based on the questions asked thro… read more
Michael Hanley
Michael Hanley
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BBA
25 satisfied customers
I have a question about capital loss rollover I basically
I have a question about capital loss rollover I basically lost about $40,000 messing around with penny stocks in an 18 month period. My situation is this... TAX YEAR CAPITAL GAIN/LOSS CLAIMED LOSS on … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,779 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
jgordosea
Enrolled Agent
Bachelor's Degree
173 satisfied customers
I made a $140,000 loan to a start up company 4 years ago when
I made a $140,000 loan to a start up company 4 years ago when i was tax resident in ireland. I moved to the US 3 years ago. The company will soon cease operations and i need to account for my loan. Ca… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,920 satisfied customers
continuation of sole proprietor closed franchise as no buyers
continuation of sole proprietor closed franchise as no buyers found. Did tax Latest info; I believe the NOL ican only be used aagainst a business profit. I do not have a business to use the NOL. Can I… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 satisfied customers
I have just received my notice of assessment for 2010 that
I have just received my notice of assessment for 2010 that states: "Our records show that you have unused non-capital losses of other years. The mount that is available to apply to other years is $60,… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 satisfied customers
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