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
How do I allocate the income received for the sale of our
How do I allocate the income received for the sale of our mini storage (for taxes) when a portion was towards the land value and a portion towards towards buildings and improvements?… read more
Barbara
Barbara
Enrolled Agent, Paralegal
10,372 satisfied customers
Capital Gains Tax Question (From Jenni) Person X owns rental
Capital Gains Tax Question (From Jenni) Person X owns rental property purchased 15 years ago in her S-Corporation in which she owns 100% of the stock. The rental property was purchased for $300,000. T… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
19,406 satisfied customers
Partnership ABC purchased Building A on Jan 1, 2016 and
Partnership ABC purchased Building A on Jan 1, 2016 and began a Motel business on that same day. For 2016 and 2017 Partnership ABC reported Motel Rental Income and Expenses, including depreciation on … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,255 satisfied customers
I purchased a business and commercial property. I had greedy
I purchased a business and commercial property. I had greedy partners and they left me hanging so i am selling the business for $50,000.00 which I purchased for $44,000.00 and then a partner came in w… read more
PDtax
PDtax
Owner
Master's Degree
4,762 satisfied customers
I am trying to sell my business and real estate. I have a
I am trying to sell my business and real estate. I have a buyer and we are suppose to close tomorrow. I sold it for 705,000.00. I am owner financing it. The buyer is putting 45,000.00 down which pays … read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
823 satisfied customers
Sold our business property in April of 2014. We held
Sold our business property in April of 2014. We held personally held the mortgage contract. Current principle balance was $494,000. We have been paying small capital gain amounts on our personal incom… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,278 satisfied customers
How are the taxes paid by seller at the sale of a business
Hello.How are the taxes paid by seller at the sale of a business for cash at closing, on owner financing and earn-out?scenario: let's assume seller had 500k invested over 5 yrs but they sell the busin… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,748 satisfied customers
I'm selling my small business to my son for $1 million on a
I'm selling my small business to my son for $1 million on a stock purchase. He is going to do an SBA loan to finance. Purchased the business 22 years ago for about the same price $950m. How much capit… read more
taxmanrog
taxmanrog
Master's Degree
1,787 satisfied customers
This (hopefully) isn't too long & complicated. Here
Hello, This (hopefully) isn't too long & complicated. Here goes: 6/2008 I buy a house for 190K (with agreement to seller if I move to sell back to him.) I make monthly payments on a promissory note fo… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,255 satisfied customers
I bought a house with a partner in August 2015 for
Hello I bought a house with a partner in August 2015 for cash in Cape Coral FL . I invested $60K and my partner $200K. in total $260K After we invested $30K+ in improvements + fees and we tried to ren… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,255 satisfied customers
My uncle's Estate sold s house last year. The sales
My uncle's Estate sold his house last year. The sales agreement required us to renovate the driveway. That expense would normally be applied to the cost basis; however, we didn't get it finished durin… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,255 satisfied customers
Trying to estimate capital gains tax on home sale. home
trying to estimate capital gains tax on home sale. home purchased in 1950 for $12,000. Sold in 2015 for $80,000. Taxable income for 2015 approx. $50,000 Have made $20,000 in home repairs, plus realtor… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
18,107 satisfied customers
I sold I store last year and reinvested the money into a new
I sold I store last year and reinvested the money into a new house last year do I have to pay capital gains on the money I made above what we paid for the store since I reinvested back into a home… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
18,107 satisfied customers
This question is related to tax consequences of foreclosure,
This question is related to tax consequences of foreclosure, short sale, and deed in lieu. (all numbers rounded but are very close to actual) Home Purchased in 2006 for $700,000 with a 20% down paymen… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
18,107 satisfied customers
In my case, is profit on sale of improved real estate a capital
In my case, is profit on sale of improved real estate a capital gain or ordinary income? I bought a lot for investment purposes and two months later decided to build a home on it for sale following co… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
265 satisfied customers
Will my rental property business have to pay capital gains
Will my rental property business have to pay capital gains this year on the rental properties I sold, when the total proceeds went to the bank to payoff commercial loans? We did not receive a dime for… read more
PhillipB EA
PhillipB EA
Accountant
Bachelor's Degree
130 satisfied customers
I inherited a bowl in 1987 which I sold but dont have a value
I inherited a bowl in 1987 which I sold but don't have a value of the item from 1987. How do I figure capital gains?… read more
Arthur Rubin
Arthur Rubin
Tax Preparer
Doctoral Degree
77 satisfied customers
If an S Corp is going to complete a Stock Sale for $450,000
If an S Corp is going to complete a Stock Sale for $450,000 of a single stock to a buyer who will assume complete ownership of the company along with all assets, what can be expected in taxes? If the … read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
265 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:

R. Klein, EA

R. Klein, EA

Enrolled Agent

265 satisfied customers

Over 20 Years experience in resolving tough tax cases

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

77 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

< 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