Capital Gains and Losses

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I bought a house years ago for ,000 and now I'm selling it
I bought a house years ago for 69,000 and now I'm selling it for 68,000, do I owe Capital gains as a rental property? … read more
emc011075
emc011075
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Bachelor's Degree
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How do you calculate depreciation on a rental property? Home
How do you calculate depreciation on a rental property? Home was purchased in 2013 for $270,000. It was not a primary residence. $25,000 of additions and improvements were made on it. We are trying to… read more
levr-tax-gain
levr-tax-gain
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I am selling my rental property in Maine. Looking to buy
I am selling my rental property in Maine. Looking to buy another property to replace it, but if I don't find something right away, what am I looking at for capital gains tax? … read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,786 satisfied customers
Had land and a mobil home in AZ. About 104K invested. Rented
Had land and a mobil home in AZ. About 104K invested. Rented from 2010 for $650/mo. Sold it last month for $90K. After costs, recd $84K on July 17, 2018. Will put $60K of that money down on a primary … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,503 satisfied customers
We sold a house in Baltimore in 2017 and am interested in
We sold a house in Baltimore in 2017 and am interested in finding out the capital gains tax. It was a rental property. … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,503 satisfied customers
We bought our home in CA1982 for $135,000 ,have sold it for
We bought our home in CA1982 for $135,000 ,have sold it for $976,000 and purchased a new home for $490,000 in Nevada. We are married. Improvements about $50,000. How much capital gains tax will we hav… read more
emc011075
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I understand how to calculate capital gains based on cost
I understand how to calculate capital gains based on cost basis and so on when selling residential real estate used as investment property. One thing I'm struggling to understand is that if the cost b… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
We are about to sell two properties. The first is a rental
We are about to sell two properties. The first is a rental property townhome that used to be my wife's home before we were married three years ago. Gains on that property will probably be around $150-… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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Sold a rental home and would like to know all about capital
sold a rental home and would like to know all about capital gains how it works … read more
Barbara
Barbara
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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-tax-gain
levr-tax-gain
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Bachelor's Degree Equivalent
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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
Robin D.
Robin D.
Vocational, Technical or Trade School
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I have had some information from Lane but I have one more
I have had some information from Lane but I have one more question. The capital gains procedure described seems to focus on the purchase price and the sales price less depreciation. What about capital… read more
levr-tax-gain
levr-tax-gain
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Bachelor's Degree Equivalent
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I have a friend sold a small motel a couple of months ago.
I have a friend sold a small motel a couple of months ago. There are a few things that can reduce there capital gains liability by reducing their basis. We know any capital improvments. We have heard … read more
Mark Taylor
Mark Taylor
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We are getting ready to sell our property in Aurora
We are getting ready to sell our property in Aurora Colorado. Paid $143,000, Owe 124,000 and estimated value is $265,000. We are married with a household income of $170,000. I am reading different ans… read more
Robin D.
Robin D.
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I own a home 5 years then took job many miles away.
I own a home for over 5 years then took job many miles away. So we rented the home for over 5 years paying some of the mortage ourselves. House was bought for $330,000 owewd $370,000 and sold for 425,… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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What percentage of taxes do I have to pay on the sale of my
what percentage of taxes do I have to pay on the sale of my second house which I rent. The house owes $143,000 and I'm selling it for $170,000.… read more
levr-tax-gain
levr-tax-gain
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Bachelor's Degree Equivalent
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Next year, I will be selling a house that will give me a
Next year, I will be selling a house that will give me a gain. I will also be selling a house in another state that will result in a loss. Can I subtract the amount I lose on the second house from the… read more
PhillipB EA
PhillipB EA
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Bachelor's Degree
130 satisfied customers
Capital gains tax on sale of a home. Owned for 34yrs; rented
Capital gains tax on sale of a home. Owned for 34yrs; rented for past 8 yrs. Did not depreciate. I am single. Sell for $500,000. Original price $86,000, Improvements $150,000.… read more
R. Klein, EA
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