Capital Gains and Losses

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I need to understand the capital gains tax on the house
I need to understand the capital gains tax on the house selling net proceeds over $250,000 in 2021 … read more
Lev
Lev
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Bachelor's Degree Equivalent
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ABSOLUTELY. SALE OF A RENTAL PROPERTY. WHAT IS THE TAX WE
ABSOLUTELY JA: What are the assets or property involved here? Customer: SALE OF A RENTAL PROPERTY JA: Is there anything else the Accountant should know before I connect you? Rest assured that they'll … read more
Lev
Lev
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I have a married client who quitclaim title to his house to
I have a married client who quitclaim title to his house to his wife. They both remain on the mortgage. In regards ***** ***** ability to each claim $250K in capital gains tax deductions for the sale … read more
Lev
Lev
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I'm purchasing a home from my mother inlaw. Single family
I'm purchasing a home from my mother inlaw JA: What are the assets or property involved here? Customer: Single family home JA: Anything else you want the Accountant to know before I connect you? Custo… read more
Robin D.
Robin D.
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If I lived in a home for 8 years, rented it for 2 then moved
If I lived in a home for 8 years, rented it for 2 then moved back in for 2 then rented it again for 9 years, would I owe any taxes if I moved back in for 2 or more years? I have taken 300K in deprecia… read more
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Lev
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If husband and I live in separate homes in California both
If husband and I live in separate homes in California both are our primary residence and we sell one, what are the tax implications for selling the one home (capital gains) and what if in future we ch… read more
Barbara
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I am a General contractor in Georgia getting ready to
I am a General contractor in Georgia getting ready to retire. I have an old 1961 Ranch rental house in a nice neighborhood I could sale for house value of 550K or a lot value of about $500K. I owe $25… read more
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Robin, I am still trying to figure out my strategy in
Hi Robin, I am still trying to figure out my strategy in regards ***** ***** property in preforeclosure as I prepare to sell. Can you help me work out what might be left after I sell the house - just … read more
Robin D.
Robin D.
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We are planning to move from Denver, CO, to the D.C. area
We are planning to move from Denver, CO, to the D.C. area (VA, MD, DC) next year. We have two houses here in Denver, the one we moved to 7.5 yrs ago and lived in with our family, which has almost doub… read more
Barbara
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I have a real estate property that I'm looking to use to
i have a real estate property that I'm looking to use to form a lcc with my mother (currently a rental property, she intends to live there and pay off the remaining mortgage of $140k, house appraised … read more
emc011075
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If someone bought a house in California in the 50s (for say,
If someone bought a house in California in the 50s (for say, $10,000), and then sold it in 2015 (to live in a nursing home) for $450,000, but 80% of the proceeds went to pay off the reverse mortgage, … read more
Lane
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I paid off my previous VAloan on my old primary residence in
I paid off my previous VAloan on my old primary residence in 2014 and reused VA for new residence. I moved after government retirement to another state in July 2014. I am selling previous house for 53… read more
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I am selling my house in Virginia for $318,000 and moving to
I am selling my house in Virginia for $318,000 and moving to California. I owe $238,000 on the house - will I have to pay any taxes on the profit? I am planning on putting the profit down on a new hom… read more
Lev
Lev
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I bought a house in 2001; then moved to a new house in December
I bought a house in 2001; then moved to a new house in December 2011. I rented out house #1 from Feb 2012 to March 2013. I owe too much (between the mortgage and a line of credit) and would have to br… read more
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Background: our grandma died and left 4 siblings a house. The
Background: our grandma died and left 4 siblings a house. The probate ended and now 4 names are XXXXX XXXXX deed. With a rough appraisal of $300K we have had an offer of $230K which includes a $50K al… read more
R. Klein, EA
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Since March of 2011, I am under contract to sell my primary
Since March of 2011, I am under contract to sell my primary residence in state of Washington with escrow to close April 2013. I will profit about 500K from the sale. (250K is then exempt from capital … read more
PhillipB EA
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If my grandfather leaves me his house thru his will, what will
If my grandfather leaves me his house thru his will, what will I have to pay (tax wise) if I sell the house? ( Capital Gains? )… read more
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Dad died last week and willed several real estate properties
Dad died last week and willed several real estate properties (7 properties) to three children to be divided equally. I expect to inherit one or two of these properties. I am currently 60 years old and… read more
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