Capital Gains and Losses

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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
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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
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I have a two-part tax question dealing with real estate. I
Hi, I have a two-part tax question dealing with real estate. I am filing my taxes for myself and my deceased mother who passed away last month. For my own taxes, I sold a property that was gifted to m… read more
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In 2003, my father had a house built in Eastham, MA on Cape.
In 2003, my father had a house built in Eastham, MA on Cape Cod. The house was built for my intellectually disabled brother to live in so as to provide him a greater degree of independence.. My father… read more
Lev
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This question relates to NJ tax on sale of an NJ property by
This question relates to NJ tax on sale of an NJ property by a PA resident. Scenario: 1. My mother inherited a house in Wildwood Crest NJ from her mother and paid $1.00 for it in 2003. My grandmother … read more
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My mother, 94 yrs old, passed away on Monday. She sold her
My mother, 94 yrs old, passed away on Monday. She sold her house in April for $400k. She has no other income other than Social Security. She live in the house, her primary residence, for two of the la… read more
Robin D.
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I'm a disabled American vets my mother put the house in a
I'm a disabled American vets my mother put the house in a trust. My brother is the executor of the trust. Each of us will have about $460,000 each. … read more
James Daloisio
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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 husband and his mother (now 80) were both on the deed for
My husband and his mother (now 80) were both on the deed for the family home in Alamosa, Colorado where she resided. She has been in assisted living for 3 mos. now. On advise from family they took her… read more
Barbara
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I live in Rhode Island and so did my 91 year old Mother. She
I live in Rhode Island and so did my 91 year old Mother. She just sold her home in May. My name as well as my brothers, sisters and of course my Mothers name was on the deed at the time of the sale. M… read more
emc011075
emc011075
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Second opinion] Morningthis year we are selling a $2m
Second opinion] Morningthis year we are selling a $2m beachhome and a $600k other home...how does the irs determing primary residence if its sold in the first 4 months of 2017...do they revert do prim… read more
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My mother gifted me her home 6 months before she passed. She
My mother gifted me her home 6 months before she passed. She did not want my sister in law to get her hands on it. I did not sign anything. I worked on it , getting it ready to sell I could not afford… read more
Dr. Fiona Chen
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My mother is selling her house. She is 81. She lived in the
Hello, My mother is selling her house. She is 81. She lived in the home 12 years. It was her only residence. 2 years ago, March 2014 she had a stroke and had to move in with me. She could no longer dr… read more
Stephen G.
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If my parents gave me a house $0 gift on nov 2015 and i sold
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If I am selling a home that was financed in my mother's name
If I am selling a home that was financed in my mother's name but I paid all the mortgage payments and etc, and she passed away 10 years ago and I have been renting it to a friend and his wife who are … read more
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We sold our mothers home after she died. The home was in the
We sold our mothers home after she died. The home was in the names of the four children. She gave over the deed years ago and just lived in the house. After her death the house sold for $95,000. We di… read more
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my 91 yr old mother has a home in massachusetts that is in
my 91 yr old mother has a home in massachusetts that is in her revocable trust. the home is now owned by her 4 adult children. my father put it in all our names decades ago. the home is paid for in fu… read more
PhillipB EA
PhillipB EA
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My father died 12 years ago and my mother had her house put
My father died 12 years ago and my mother had her house put in my and my sisters name with "lifetime rights". She died 2 years ago and we sold the house last year. From which date are the capital gain… read more
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