Capital Gains and Losses

Capital Gains Tax Questions? Ask a Tax Advisor for Answers ASAP

Connect one-on-one with {0} who will answer your question

Related Capital Gains and Losses Questions
Land held in a family Trust was sold and the income
Land held in a family Trust was sold and the income distributed to 40 beneficiaries living in 10 states in the USA. Who pays Capital Gains tax. Who and how are Capital Gains computer.? … read more
levr-tax-gain
levr-tax-gain
Tax Advisor
Bachelor's Degree Equivalent
57,075 satisfied customers
My question is about the tax implications of selling a real
Hello, My question is about the tax implications of selling a real estate property held by a Trust.I am beginning the process of selling a house (single family residence) that is the sole asset held/a… read more
JeffS6413
JeffS6413
Principal/Advisor
Master's Degree
2,441 satisfied customers
Splitting sales of mom's house with family. How do I or we
Splitting sales of mom's house with family. How do I or we file capital gains … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,260 satisfied customers
We have a family irrevocable trust and have a properties
We have a family irrevocable trust and have a properties that are going to be sold. There are four members of the family. The net sale proceeds from the sale of the properties will be split four ways.… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,260 satisfied customers
For wanting anonymity I created a blind real estate trust
For wanting anonymity I created a blind real estate trust which I am the beneficiary but my Lawyer is the trustee in order to buy 7 building lots of land near me at auction.My purchase price was appro… read more
JeffS6413
JeffS6413
Principal/Advisor
Master's Degree
2,441 satisfied customers
Question about 1099 for real estate sold in a trust. How
Question about 1099 for real estate sold in a trust. How taxes work and what IRS forms are required… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,260 satisfied customers
3 sisters inherited mother's home. Property taxed via NJ
3 sisters inherited mother's home. Property taxed via NJ PROBATE paid by estate acct. Do siblings need to report 1/3 of capital gains in individual tax return also? … read more
levr-tax-gain
levr-tax-gain
Tax Advisor
Bachelor's Degree Equivalent
57,075 satisfied customers
I want sell a rehab property...as successor to living trust
I want sell a rehab property...as successor to living trust to rehab pri***** *****ving property both in the living trust...capital gains???? … read more
levr-tax-gain
levr-tax-gain
Tax Advisor
Bachelor's Degree Equivalent
57,075 satisfied customers
The grantor passed away and the home is being sold in a
The grantor passed away and the home is being sold in a trust. Who can write off improvements done to the home, as well as the repairs done to get saleable? Can we offset capital gains moving forward?… read more
levr-tax-gain
levr-tax-gain
Tax Advisor
Bachelor's Degree Equivalent
57,075 satisfied customers
My dad had put the house he owned into a trust. He did this
My dad had put the house he owned into a trust. He did this while still alive. He has since passed. The house was sold after he passed away. It sold for $135,000.00 in the state of CT. It was original… read more
levr-tax-gain
levr-tax-gain
Tax Advisor
Bachelor's Degree Equivalent
57,075 satisfied customers
What does Capital Gains of a piece of real estate look like
What does Capital Gains of a piece of real estate look like when the property is transferred out of a trust?A property was placed in a revocable trust in 1996 with an approximate value of $350,000 and… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,260 satisfied customers
I'm back. On April 5 in our conversation, you said that the
I'm back. On April 5 in our conversation, you said that the trust should "enter the capital loss on 1041 K-1, line 4a.....check the box on the form to show this is not the final K-1." I was thinking t… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,779 satisfied customers
My sister is the POA and executor for my mother's estate.
My sister is the POA and executor for my mother's estate. The trust sold a house in 2016 at a loss. The house was empty from 2012 when my mother died until the sale in 2016. We found out that the trus… read more
PDtax
PDtax
Owner
Master's Degree
6,530 satisfied customers
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-tax-gain
levr-tax-gain
Tax Advisor
Bachelor's Degree Equivalent
57,075 satisfied customers
I'm working on my late mother's trust taxes (1041) and I
I'm working on my late mother's trust taxes (1041) and I don't quite understand how a capital loss is distributed to beneficiaries. With the sale of some mutual funds and her home there is a overall c… read more
levr-tax-gain
levr-tax-gain
Tax Advisor
Bachelor's Degree Equivalent
57,075 satisfied customers
I'm preparing my special needs son's taxes. , he re
I'm preparing my special needs son's taxes. For 2015, he received $8200 in social security. + $900 in capital gains from a small special needs grantor type trust fund. The amounts are such that he wou… read more
levr-tax-gain
levr-tax-gain
Tax Advisor
Bachelor's Degree Equivalent
57,075 satisfied customers
Our minor son has a grantor trust. My wife is the Trustee.
Our minor son has a grantor trust. My wife is the Trustee. We live in Florida. If there is a tax obligation I know the Trust needs to file a 1041. If there are payments made by the Trust, the payments… read more
PDtax
PDtax
Owner
Master's Degree
6,530 satisfied customers
The maker of a living revocable trust has passed. the
hello, the maker of a living revocable trust has passed. the beneficiaries, two children, are ready to split the trust into two individual trusts, a nontaxable event, as described by the financial adv… read more
levr-tax-gain
levr-tax-gain
Tax Advisor
Bachelor's Degree Equivalent
57,075 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

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

Accountant

130 satisfied customers

Enrolled Agent with 8 years experience in tax return preparation, representation, and taxpayer consultation

Arthur Rubin

Arthur Rubin

Tax Preparer

86 satisfied customers

Over 22 years of tax preparation experience.

Bill-the-CPA

Bill-the-CPA

Certified Public Accountant (CPA)

55 satisfied customers

Seasoned professional with over 15 years in public accounting. Income, sales and property tax. Also accounting/tax software.

FredStevens

FredStevens

Accountant

37 satisfied customers

Experienced in business, accounting and tax planning for individuals, small/medium sized businesses and non-profit organizations

Shane-CPA

Shane-CPA

CPA, PFS, CGMA

11 satisfied customers

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

R. Klein, EA

R. Klein, EA

Enrolled Agent

271 satisfied customers

Over 20 Years experience in resolving tough tax cases

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x