Capital Gains and Losses

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Question 1) in this link about figuring out NOL,. it gives
Question 1)in this link about figuring out NOL, https://www.irs.gov/publications/p536#en_US_2017_publink1000177379 .it gives example about a guy called "Glenn". Please see that part. My situation is s… read more
PDtax
PDtax
Owner
Master's Degree
4,834 satisfied customers
I want to buy a jan 2021 leap call option.... if I hold for
i want to buy a jan 2021 leap call option.... if I hold for one year will I have capital gains status? … read more
taxmanrog
taxmanrog
Master's Degree
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I need financial advice. If I invest in Berkshire Hathaway
I need financial advice. If I invest in Berkshire Hathaway Class B stock for greater than a year, since they do not pay a dividend, do I only pay long term capital gain for federal taxes? I live in Fl… read more
emc011075
emc011075
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Tax advice on losses from a Preferred Interest in an LLCI
Tax advice on losses from a Preferred Interest in an LLC I would like guidance about reporting losses resulting from investing in a Delaware LLC in the form of preferred membership interest units. The… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
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I bought 1/2 position in 2012 and another 1/2 position in
I bought 1/2 position in 2012 and another 1/2 position in 2014. The stock was merged/taken over in 2015. The merger was 1 for 1 and an additional 16.50 in cash. I sol not shares. My 1099 form stated t… read more
Stephen G.
Stephen G.
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Bachelor's Degree
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I plan to sell a rental and have long term income property
I plan to sell a rental and have long term income property gains. I also have short term stock losses. Can I offset the LT gains with the ST losses? When I file… read more
Arthur Rubin
Arthur Rubin
Tax Preparer
Doctoral Degree
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I had a long term capital loss in 2011, but didn't have any
I had a long term capital loss in 2011, but didn't have any capital transaction in 2012 or 2013. I had a long-term capital gain in 2014. Can I use the 2011 loss to offset this years gain?… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
265 satisfied customers
A simple question. My son makes a salary of about 60K per
A simple question. My son makes a salary of about 60K per year. He now has about 4k in short term stock losses. If he sells those stocks now (and takes the short term loss) will that offset some of hi… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 satisfied customers
Six years ago I invested $ in a start-up that is now among
Six years ago I invested $ in a start-up that is now among the "living dead". It hasn't declared bankrupcy as far as I know, but my investment is probably nearly worthless. Can I write-down the value … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
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simple question here....I need to sell some stock but want
simple question here....I need to sell some stock but want to minimize the capital gains tax impact. Am I correct in thinking that I should focus on selling all stock subject a long term capital gain … read more
Tax.appeal.168
Tax.appeal.168
Principal
6,607 satisfied customers
My company offers Employee stocks at 85%. If I invest $8500
My company offers Employee stocks at 85%. If I invest $8500 per year, they buy stocks for me worth $10000. If I want to save on taxes via capital gains (as opposed to short term gains), do I have to k… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 satisfied customers
Hello, I had bought a stock in 2009. I paid totally $4500
Hello, I had bought a stock in 2009. I paid totally $4500 in that year. Then the stock went down and finally bankrupt. It went bankrupt in 2011 i believe, i am not sure. I didnt do anything else on it… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
265 satisfied customers
I had some large short term losses from a few years back (over
I had some large short term losses from a few years back (over 100K) I have been taking the 3k every year but now I have some gains in some stocks of over 30K. Can I now offset the 30K with the losses… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 satisfied customers
I am co executor and co beneficiary, along with my sister,
I am co executor and co beneficiary, along with my sister, of my late mother's NJ estate. My mother's will left her estate to us 50/50; this included a house and stocks. The stocks were transferred to… read more
jgordosea
jgordosea
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This is a question for a CPA: I am currently unemployed
This is a question for a CPA: I am currently unemployed and used to make around $45,000 a year in 2011, mid way through the year I lost my job. I couldn't find work so I started investing in stocks on… read more
R. Klein, EA
R. Klein, EA
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I had General Motors bonds which became assest of Liquidation
I had General Motors bonds which became assest of Liquidation Motors after the GM bankruptcy. The bonds were converted ( I call it that becasue the bonds dissapeared from my account and were replaced … read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
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I have a capital loss that has a 3,000.00 limit per year on
I have a capital loss that has a 3,000.00 limit per year on my tax return. I think that limit applies to ordinary income. Is that another type of gain such as short or long term capital gains where th… read more
Wendy Reed
Wendy Reed
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Master's Degree
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I paid $10,000 5 years ago for my deeded time share unit. I
I paid $10,000 5 years ago for my deeded time share unit. I have tried to sell it, but no one will buy it. To get rid of it, I must pay a company $2,000.00 to take it off my hands. I bought this prope… read more
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Wendy Reed
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R. Klein, EA

R. Klein, EA

Enrolled Agent

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Over 20 Years experience in resolving tough tax cases

jgordosea

jgordosea

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As an Enrolled Agent you can be ensured of my competence in income tax matters.

PhillipB EA

PhillipB EA

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