Capital Gains and Losses

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I sold my house in February this year with $380k capital
I sold my house in February this year with $380k capital gain. As a single person i have a $250k allowance, which I have calculated to be only $150k due to the fact i used $100k to write of capital ga… read more
emc011075
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I am selling my duplex. I am also filing roof claim to get
I am selling my duplex. I am also filing roof claim to get roof replaced. Buyer and I are meeting in the middle on cost of replacing roof. I will pay his first $6000 to the roofer of his choice as a d… read more
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We live in Winnipeg. My husband's father died in Nov 2020.
Hello.We live in Winnipeg. My husband's father died in Nov 2020. He left his house equally to my husband and his brother. We are considering buying the brother's half of the house, renovating, renting… read more
AndrewD914
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We have capital gains for the first time, due to selling a
We have capital gains for the first time, due to selling a former residence. We don't meet the 2/5yr exemption. But so many questions about this. Not sure where to start. Wife had breast cancer in 201… read more
bkb1956
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My mom purchased a home, closed in oct 2017 (took possession
My mom purchased a home, closed in oct 2017 (took possession 8/2017) for $75k. It was falling apart and we put in $40,000 to bring it up to code. We found out my husband is relocating for work from Cl… read more
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In March of this year we sold our home in Colorado. In May
In March of this year we sold our home in Colorado. In May of this year we purchased a home in Arizona. Due to health concerns we are selling the home we purchase 4 months ago in Southern Arizona to m… read more
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We want to buy a new house, but have not sold our house yet.
Hi - We want to buy a new house, but have not sold our house yet. We bought our house 37 years ago for $75K and it is has been appraised at $550K - 10 acres with house in popular area. I know there is… read more
bkb1956
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I have a capital gains question relative to sale of a
Good afternoon: I have a capital gains question relative to sale of a mixed-use house (rental/residence) and was hoping you could provide some guidance. Please be prepared for follow-up questions and … read more
Lane
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I have a real estate property that I'm looking to use to
i have a real estate property that I'm looking to use to form a lcc with my mother (currently a rental property, she intends to live there and pay off the remaining mortgage of $140k, house appraised … read more
emc011075
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I am closing on a house next week. I purchased the house in
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My husband and I went through a divorce. I was on the deed
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Stephen G.
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5 yrs ago we sold our home in Massachusetts. purchased a
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I am 70 years old and have held title to my Mother's home in
I am 70 years old and have held title to my Mother's home in my name only . 15 years. I live in Arkansas & the house is located here also. Prior to that my brothers (2) and I had joint ownership. They… read more
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We have owned our WA house since 1986. My husband got a job
We have owned our WA house since 1986. My husband got a job in CA. He lived there August 2009-February 2015. We bought a condo in CA March 2011 and sold it Sept 2014. (We plan to pay capital gains on … read more
jgordosea
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Hi, I run a small C-corp and we have issued convertible debt to our investors. Our business is at the point where we are either looking at a dissolution/bankruptcy or a small acquisition/asset purchas… read more
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IRS Agent issue. I own a large house and moved in with my girlfriend in 2000 in her residence. So I rented the house to my brother who agreed to move in and take care of my house which is a huge task … read more
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Within the next two months my brothers and I will close on the sale of a building we own, and my take of the profit will be approximately $1.1 million. My question is this: are there any legimitate wa… read more
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My husband and I bought our house (a forclosure) for $80,000
My husband and I bought our house (a forclosure) for $80,000 in November 2011. We bought all new appliances, put in all new floors, and had new siding, gutters and roof put on. We have receipts for al… read more
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