Capital Gains and Losses

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Related Capital Gains and Losses Questions
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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I have an investment home. Every month I make an extra $300
I have an investment home. Every month I make an extra $300 payment towards principal in order to accelerate the loan repayment. Now I recently I discovered that when you sell investment home, you wil… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
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My father recently passed away and in (I think) May of 2019
my father recently passed away and in (I think) May of 2019 he added my sister and I to the deed of his house.....how does this gains tax affect us upon the sale of the house? … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,902 satisfied customers
We are Looking at purchasing a property for $155,000 and we
Hi there. We are Looking at purchasing a property for $155,000 and we are selling another property for $197,000 will this allow us to use capital gains and not pay a penalty? … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
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Homeowners live in home. Square footage 2400 sq ft, They
Homeowners live in home. Square footage 2400 sq ft, They rent out space including a room of 600 sq ft in the house for $1,000 month. The property taxes insurance, mortgage etc are $2,000 month. Is thi… read more
emc011075
emc011075
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USA tax question. Lodger vs tenant. Scenario: single family
USA tax question. Lodger vs tenant. Scenario: single family home in California. Owner lives in home. Relative lives in a sectioned off part of the home and agrees to split the cost of all the bills, p… read more
TaxRobin
TaxRobin
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Vocational, Technical or Trade School
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I own primary residence in California. If I rent a room out
I own primary residence in California. If I rent a room out to tenant for one year does that mean i have to claim depreciation and would that complicate things if I ever wish to claim the 2 years out … read more
James Daloisio
James Daloisio
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Doctoral Degree
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Hope you can help. Bought my first parents house in UK in
Hi Pearl hope you can help. Bought my first parents house in UK in 2002 for GBP 175,000. Lived in uk until 2007 then moved to USA firstly on working visa then green card then citizen. Planning on sell… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,902 satisfied customers
We're about to final a home sale in Calif. We bought the
We're about to final a home sale in Calif. We bought the land in 1983 for $360,000 (51 acres). We built a small home and lived in it for 6 years while we built a larger home, finaled in 1990. It is 45… read more
Lev
Lev
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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
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Bachelor's Degree
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We just sold a home that has been rented for the last 6
We just sold a home that has been rented for the last 6 years. The purchase price was $50,000 and the selling price was $769,000. While we were still living in the house we paid about $70,000 for majo… read more
Tax.appeal.168
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I have a very complex situation. My house has been in
I have a very complex situation. My house has been in preforeclosure for several years while I struggled with the bank in an attempt to get a loan modification. Not happening. Now I have to sell while… read more
Mark Anderson
Mark Anderson
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I have lived in my primary residence for over 20 years. I
I have lived in my primary residence for over 20 years. I rent out rooms from September to June and rent out the entire hoyse for July and August. I want to sell the house next year. Am I eligible for… read more
TaxRobin
TaxRobin
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31,047 satisfied customers
If I rent out one out of the three rooms in my primary
If I rent out one out of the three rooms in my primary residence, do I have to claim 1/3 of the home as rental property and follow the rules there (i.e. report the rental income, deduct the prorated p… read more
ABC Accounting Group
ABC Accounting Group
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Years ago, sold primary resident. Shortly after, paid cash
Years ago, sold primary resident. Shortly after, paid cash for small house ($280,000). Used house as rental shortly after purchase. Few years later, divorced. I got small house (rental) and financed $… read more
Lev
Lev
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I purchased a 4 family house in Rochester, NY in 2003 and
I purchased a 4 family house in Rochester, NY in 2003 and paid 100,000 for it. The house is under a sale contract for 150,000 and will close in January 2016. I have put on a new roof for 7000 and adde… read more
Lev
Lev
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Bachelor's Degree Equivalent
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A property I own is a single family house that I once resided
A property I own is a single family house that I once resided in, then rented for a few years. Now it is vacant and technically up for sale, but failed to sell (yes, even in the bay area market). I ha… read more
Lev
Lev
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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
R. Klein, EA
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271 satisfied customers
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