Capital Gains and Losses

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How does joint tenancy on title affect tax on home sale. We
How does joint tenancy on title affect tax on home sale … read more
Barbara
Barbara
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I have purchased my house back in the 2006 for 350 k and
Hi .. I have purchased my house back in the 2006 for 350 k and sold it in 2020 for 377 k. Over the years I did repair my house and repairs are notched in my taxes. However I did not included all my ho… read more
Barbara
Barbara
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I have a question regarding capital gains on real estate
I have a question regarding capital gains on real estate investment. If I sell an investment property and buy another of equal value I won't be paying immediate capital gains under the 1031 Exchange ,… read more
Carter McBride
Carter McBride
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We live in Massachusetts. My wife and I are thinking about
We live in Massachusetts. My wife and I are thinking about selling our rental home, which was transferred into our name from her mom a shortly before she was placed into a nursing home. House was tran… read more
Barbara
Barbara
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I have a situation whereas I put a property (vacant land) in
Hello,I have a situation whereas I put a property (vacant land) in my daughters name several years ago so that in the event something happened to me it would be hers with no complications. I was sick … read more
emc011075
emc011075
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My mom put her house in mine and my sister's name several
My mom put her house in mine and my sister's name several years ago, (so it is gifted?) we have just sold her house and I am selling my house, and are presently building a duplex condo in a over 55 co… read more
Mark Taylor
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My mom has a life estate, setup about 5 and 1/2 years ago
Hello. My mom has a life estate, setup about 5 and 1/2 years ago with my brother as the remainderman. We have to sell the house and need to understand what the capital gains tax will be for bot her an… read more
Barbara
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My mother quit claimed her home to my sister and myself 9
My mother quit claimed her home to my sister and myself 9 years ago with the stipulation that she could live there until she passed away. She passed away in April and we just sold the home for $253,00… read more
emc011075
emc011075
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In 2008 we paid cash of 80K for a second home to rent to our
In 2008 we paid cash of 80K for a second home to rent to our daughter. In 2009 we and her signed a 15 year land contract (LC). For 2009 -2018 we reported the LC interest on Schedule B and principal pr… read more
Dr. Fiona Chen
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My three siblings and I have owned our mother's house (equal
My three siblings and I have owned our mother's house (equal 25% shares) for 18 years. My mother just passed away and I am buying out my 3 siblings. Will they have to pay capital gains? If so, how muc… read more
emc011075
emc011075
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1) My parents owned a house outright in North Carolina. When
1) My parents owned a house outright in North Carolina. When my father passed away 5 years ago, my mother was in ill health so we immediately transferred ownership to my adult daughter (their granddau… read more
Barbara
Barbara
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We loaned our daughter approx $10,000 over a period of
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emc011075
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My wife Daughter and I are selling a house that has us all
My wife Daughter and I are selling a house that has us all listed as owners. We want to split up the proceeds with some profit going to our daughter as he has been living in the house and paying the m… read more
Robin D.
Robin D.
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My sister's house was sold in 2015 and put into a trust to
my sister's house was sold in 2015 and put into a trust to take care of her medical and board and care expenses in Dallas Texas she passed away in Febuary las year 2017. Her 2015 tax return did not re… read more
Lane
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My mother (US Citizen) and mother-in-law (Canadian) want to
My mother (US Citizen) and mother-in-law (Canadian) want to distribute their assets before their death. They want to buy a house for our child, that we can live in (for a reduced rent). What is the be… read more
R. Klein, EA
R. Klein, EA
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My mother is 98 years old, has dementia, and is living in a
My mother is 98 years old, has dementia, and is living in a rural Colorado skilled nursing facility. She has social security, some help from a long-term care policy, and is self-paying due to the sale… read more
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My mother-in-law is 83 years old. She has two children and
My mother-in-law is 83 years old. She has two children and 9 grand children. She has a trust for her estate which at this time has an approximate value of $1.75 million, and currently all the assets a… read more
R. Klein, EA
R. Klein, EA
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We have lived in current home for 7 years however it was originally
We have lived in current home for 7 years however it was originally purchased by my sister. We lived together for 4.5 years before she married and moved into her own home elsewhere. I have continued t… read more
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