Capital Gains and Losses

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Related Capital Gains and Losses Questions
Question for Alexander - I sold a property at a loss last
Question for Alexander -I sold a property at a loss last year that I purchased in 2012. I did no… read more
Alexander Efros
Alexander Efros
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I have a few rental properties and I've just sold one last
I have a few rental properties and I've just sold one last week. I have a few questions: 1. Can I use my losses to offset my depreciation in this property. All of my properties are under my name for t… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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I have two questions: 1) I have a big capital loss carryover
I have two questions:1) I have a big capital loss carryover from 2017 plus more stock losses in 2018. Normally I am not allowed to use more than $3K for capital loss in a given year. But I sold a hous… read more
Stephen G.
Stephen G.
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I sold a rental condo in 2018. I paid 283,000 for it in
I sold a rental condo in 2018. I paid 283,000 for it in 2006.sold it for 255,000 in April 2018. Lived in it for 2 and a half years and was unable to sell it and converted it to rental property. Closin… read more
Carter McBride
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I had a house that I used as a rental for three years and
I had a house that I used as a rental for three years and used accelerated depreation. I am wondering now where to find the number I should use for the capital gains on this years taxes...I sold the h… read more
Mark Taylor
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I sold a condo on 12/30/2016 for $156,383. I purchased the
I sold a condo on 12/30/2016 for $156,383. I purchased the condo for $173,000 in 1997. Can I deduct a capital loss in 2016?… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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I have had 3 rental properties, each for about 5 years. I
I have had 3 rental properties, each for about 5 years. I have had 3 K-1's each year that have passive losses due to the depreciation I've taken on the properties. I have not been able to offset these… read more
Lane
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If we sell a home that we have been renting for less than
If we sell a home that we have been renting for less than the original purchase, is that considered a capital gains loss? And can we offset the loss against other capital gains and roll the excess for… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
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We had a second home that we sold last year. Each year we
We had a second home that we sold last year. Each year we had losses that we could not deduct because we could only deduct as much as the income from that home … read more
Lane
Lane
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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
Retired
Bachelor's Degree Equivalent
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I purchased a home in 2006 for $507k and leased it out
I purchased a home in 2006 for $507k and leased it out for 6 years. I have not lived in the home since 2007 and rented the property for 7 years. I did not take any depreciation and leased it for less … read more
emc011075
emc011075
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Bachelor's Degree
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I sold a rental property last year & need to know what I can deduct on capital gains &
I sold a rental property last year & need to know what I can deduct on capital gains & what I cannot deduct. Have owned the property since about 2008 & rented it out & depreciated it each year & then … read more
Stephen G.
Stephen G.
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I bought 1/5 share of a general partnership about 7 years ago.
I bought 1/5 share of a general partnership about 7 years ago. The partnership owned a cabin which all partners used. We sold the cabin this year and desolved the partnership. I would like to know if … read more
jgordosea
jgordosea
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Bachelor's Degree
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Hi, Me and my wife together have four rental units and we both
Hi, Me and my wife together have four rental units and we both work full time as well and receive w2s.I usually use TurboTax software to do my taxes. Most of the years we have losses. I was told by se… read more
PhillipB EA
PhillipB EA
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Bachelor's Degree
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I am selling a vacation home in another state which I built
I am selling a vacation home in another state which I built in 1972. Huge increase in value. Can I avoid capital gains tax or can I lessen the hit?… read more
PhillipB EA
PhillipB EA
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My wife & I purchased a 8-acre tract of land in November
My wife & I purchased a 8-acre tract of land in November 2011 for $61,500.00. We sub-divided it into 3-lots. After our advertiseing cost, closeing cost ect we have $65,000.00 in the property. We plan … read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
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I sold property overseas in Feb 2011 and invested foreign currency
I sold property overseas in Feb 2011 and invested foreign currency (FCY) proceeds in a one-year bond yielding 12%. However the FCY lost 10% by end 2011, from date of investment. Q1: Do I report any in… read more
jgordosea
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I have a property that I started to rent in February 2011.
I have a property that I started to rent in February 2011. I have not profited from this rental. I've also had to spend about $9000 paying a lawyer to litigate with the mortgagor due to some issues th… read more
Bill-the-CPA
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R. Klein, EA

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