Capital Gains and Losses

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Related Capital Gains and Losses Questions
In 2003 we sold rental property for 1,600,000 and did a 1031
in 2003 we sold rental property for 1,600,000 and did a 1031 exchange to use money as down payment on property i Illinois. If we sell tje new property do we still owe capital gains on the $1,600,000? … read more
Carter McBride
Carter McBride
LLM
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My girlfriend (unmarried domestic partner) Sold her home she
My girlfriend (unmarried domestic partner) Sold her home she has owned for 17 years yesterdayAnd received a check for $115.000She bought the house for $106.000 And lived in it the first three years th… read more
Barbara
Barbara
Enrolled Agent, Paralegal
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This is a real estate investment capital gains question. I
Hello, This is a real estate investment capital gains question. I had bought a house upstate New York at a tax auction for $27,000. It's a large house and may have a value of $350,000. Legal expenses … read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
19,949 satisfied customers
I have a rental property in Denver that I would like advice
I have a rental property in Denver that I would like advice on the steps to sell and avoid the new tax law cap gains harsh reality? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
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How can I avoid paying taxes on a capital gains on a real
How can I avoid paying taxes on a capital gains on a real estate sale? This is the sale of a rental property.… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
32,004 satisfied customers
Re: 1031 exchange vs paying off mortgage I'm not a tax
Re: 1031 exchange vs paying off mortgageI'm not a tax professional but I'd like to at least have a basic understanding on the pros/cons of paying off a home loan or buying another home via a 1031 exch… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
3,894 satisfied customers
I'm selling a property at that I have owned for 3 years and
I'm selling a property at that I have owned for 3 years and my buyer is also buying my neighbor's property. Since I connected my buyer to my neighbor they agreed to pay me a big profit. Can I take tha… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,330 satisfied customers
I sold an old family farm last week and I am wondering how I
I sold an old family farm last week and I am wondering how I will be taxed with capital gains? … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,422 satisfied customers
Does a married couple get a one time exemption for capital
does a married couple get a one time exemption for capital gains for investment property. Can they deduct off the gain any money spent on the rental over the period of them owing it? We were told we g… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
19,949 satisfied customers
Can you take the loss on the sale of a replacement property
Can you take the loss on the sale of a replacement property that was originally acquired in a 1031 Exchange ?… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
18,239 satisfied customers
I would like a CPA to answer this question please. Can I
I would like a CPA to answer this question please. Can I take the loss on the sale of a replacement property acquired in a 1031 exchange in 2006.… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,422 satisfied customers
On a 1031 tax exchange sale of a rental property, how do you
On a 1031 tax exchange sale of a rental property, how long do you have to purchase another property in the state of Washington to avoid capital gains tax? And how much is owed to the IRS if you use pa… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
18,239 satisfied customers
Before I married in 2014 I sold my home and didn't have to
Hi, before I married in 2014 I sold my home and didn't have to pay capital gains tax because the gain was less than $250,000. Now this year I am selling my share of a condo co owned with my sister tha… read more
PhillipB EA
PhillipB EA
Accountant
Bachelor's Degree
130 satisfied customers
I have a few questions about 1031 exchange state of
Hello, I have a few questions about 1031 exchange for the state of Colorado. If I sell a rental property i own and want to exchange it and buy my brother en laws rental property is that ok? What if hi… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
18,239 satisfied customers
Did you say you needed more details. As stated: I have a
Did you say you needed more details. As stated: I have a rental on the market. My tax guy says the depreciation is "maxed" out. We are presently purchasing another rental in advance - settlement is so… read more
Jonathan Tierney
Jonathan Tierney
MBA
295 satisfied customers
I have a question on capital gains. I closed on the sale of
I have a question on capital gains. I closed on the sale of a vacant land lot yesterday which I purchased in 2011. We walked away with $31,670 after the previous loan and closing costs were settled. W… read more
PhillipB EA
PhillipB EA
Accountant
Bachelor's Degree
130 satisfied customers
I have a rental in Chicago. It was my primary residence
I have a rental in Chicago. It was my primary residence for 4 years before I had to move to another city. I leased the unit on Jan 1, 2013, and want to sell the unit. If sold, the likely gain will be … read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 satisfied customers
i just sold a rental property with houseboat zoned commercial
i just sold a rental property with houseboat zoned commercial and have not lived on property in last five years. sale was 600k, purchase price was 232k with 120k in improvements; if i find another pro… read more
angelwork1111
angelwork1111
President
Bachelor's Degree
8 satisfied customers
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