Capital Gains and Losses

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My wife owns a piece of land in Mexico. She has owned it for
My wife owns a piece of land in Mexico. She has owned it for 38 years. She wants to sell it for $120K. It would be $30K down and $5K a month for 18 months. Our combined taxable income is under $80,000… read more
emc011075
emc011075
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Bachelor's Degree
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Real estate capital gains taxes. Real estate, selling a
real estate, selling a house and need to make sure i don't pay more in taxes than necessary … read more
emc011075
emc011075
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Can you defer a portion of your capital gains tax by making
Can you defer a portion of your capital gains tax by making a like-kind exchange of lesser value? For example I realize a capital gain of 100K from selling my rental property and then I purchase anoth… read more
Carter McBride
Carter McBride
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I currently have a piece of property listed as my address of
I currently have a piece of property listed as my address of convenience for my farm and I have recieved a cash offer on it. Would I be able to sell this property as part of my business (use it as bus… read more
Lev
Lev
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Question: Would there be a UBTI tax on the money invested
Question: Would there be a UBTI tax on the money invested from my self-directed IRA into a land entitlement project? HelloI plan to invest $100K from my self-directed IRA-account with a real estate de… read more
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Lev
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We sold one parcel of the two parcels are home was on. Not
We sold one parcel of the two parcels are home was on. Not selling home. Have lived there for like 20 Plus year (Tecumseh, Mi) How would capital gains be figured … read more
Barbara
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I am 64 years old, retired, married filing jointly, with one
I am 64 years old, retired, married filing jointly, with one dependent child. My wife works and I have Social javascript:void(0)Security income of about 11k annually, together we have had anual income… read more
Barbara
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Think of selling investment property I have home that we
Hello think of selling investment property I have home that we rent for years depriation 200k house valued at 695 morgage left 225k then a have a lot right next door paid 200k worth 65k if i got 700k … read more
Lev
Lev
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CGT in the UK. How legaly to avoid CGT. Lets say that after
CGT in the UK. How legaly to avoid CGT. Lets say that after all allowable deduction there is a 50K left subject to CGT. If I have bought in the same year another property for 50K or more would I avoid… read more
Expert
Expert
I understand how to calculate capital gains based on cost
I understand how to calculate capital gains based on cost basis and so on when selling residential real estate used as investment property. One thing I'm struggling to understand is that if the cost b… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
Oh, thank you. What are the 2 ways of working out CGT......
What are the 2 ways of working out CGT...... I thought there was a sliding scale...ie.....Year 1, property made $10K, carry forward, Year 2, made $50K....etc... BUT 50% of gain over 30 years seems TOO MUCH … read more
Barbara
Barbara
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I want to sell some land in North Carolina that is part of a
I want to sell some land in North Carolina that is part of a farm. When I inherited it fifteen years ago it was valued at twenty thousand dollars. It's tax value now is forty five thousand dollars. A … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,664 satisfied customers
Last year we bought land by taking a home equity loan. Paid
Last year we bought land by taking a home equity loan. Paid cash for the land with that money. Obviously now we have two mortgages on our residence and have paid for land somewhere else. The previous … read more
Robin D.
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If I sell a building for $650,000.00 and gave 500,000.00 for
If I sell a building for $650,000.00 and gave 500,000.00 for it when I build it in 1997 how much capital gain taxes will I be liable for?????… read more
Stephen G.
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If I sell my rental that has 33,000 depreciation I know will
If I sell my rental that has 33,000 depreciation I know will be taxed on this plus any profit, but will this 33,000 be included as income? I only make 39,000 a year. Will it make my income for 2015 no… read more
R. Klein, EA
R. Klein, EA
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My wife and I sold a 16 acre piece of undeveloped land this
My wife and I sold a 16 acre piece of undeveloped land this year for 4500/acre (7% commission cost). When this land was purchased in 2004, an S corporation owned 100% by myself purchased the land for … read more
jgordosea
jgordosea
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Hi. Grandma gifted parcels of land in 2010 and 2011 worth a
Hi. Grandma gifted parcels of land in 2010 and 2011 worth a total of maybe $100k to her daughter. Daughter was giving up a lot of time caring for her so I guess it could be gift or payment of RN care.… read more
R. Klein, EA
R. Klein, EA
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How is capital gains looked at if you are buying land for Timber?
How is capital gains looked at if you are buying land for Timber? If you buy the land and log the timber - do you have to pay for any taxes on the timber if you already paid for land with the timber b… read more
Robin D.
Robin D.
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