Capital Gains and Losses

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Owned 2 homes First bought 2008, was primary residence until
Owned 2 homesFirst bought 2008, was primary residence until 2015 when we got another house and the other home became putchase in 2008 became our second home.We sold both properties. Do I have to pay a… read more
bkb1956
bkb1956
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We sold our home to our son in May of 2014 and he moved in
We sold our home to our son in May of 2014 and he moved in immediately. He was suppose to be able to get a loan and pay for it within a year but was not able to until July of 2019. We told him we woul… read more
Alexander Efros
Alexander Efros
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I have a tax question about understanding the exclusion on
I have a tax question about understanding the exclusion on the sale of a house.If an individual bought a home in 2017 and lived in a home until it was sold in 2019. Does that person qualify for the ex… read more
emc011075
emc011075
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I have a primary residence in Colorado- purchased in 1992. I
I have a primary residence in Colorado- purchased in 1992 … read more
Lev
Lev
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Bachelor's Degree Equivalent
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If i reninvest in the phillipines property how much capital
if i reninvest in the phillipines property how much capital gains do i pay … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
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We sold our home in state for 875,000. this home was
we sold our home in washington state for 875,000. this home was inherited and was appraised at 497,000 when myself and my two sibling inherited it. my brother and sister and i had a written agreement … read more
bkb1956
bkb1956
Enrolled Agent/Real Estate & Corporate Paralegal
13,957 satisfied customers
We built a home mortgage free in which we invested $250,000.
We built a home mortgage free in which we invested $250,000. If we sell the home for $150,000 through a contract for deed with a monthly installment of $700 for two years, at which time the final paym… read more
emc011075
emc011075
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We (wife and I) are moving (back) across the country for
We (wife and I) are moving (back) across the country for wife's recent job change and need to sell our current home. My question is: Will we be able to claim a pro-rata primary residence capital gains… read more
Dr. Fiona Chen
Dr. Fiona Chen
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Ph.D.
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Morning mother sold a piece of investment commercial
Morning mother sold a piece of investment commercial property in delaware that she and father owned for 35 years. Purchase price 35 years ago $35,000 sales price $600,000. Her tax rate will be 15%...h… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
18,780 satisfied customers
My husband and I bought our house in 1978. He passed away in
My husband and I bought our house in 1978. He passed away in 2007. If I sold my house now, what would be the Capital Gain Tax I would have to pay?… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
5,293 satisfied customers
If we sell our primary home in WA state and a second home in
If we sell our primary home in WA state and a second home in AZ and combine the proceeds to purchase a new primary home will we be subject to capital gains taxes on either sell? My husband & I are bot… read more
Stephen G.
Stephen G.
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Bachelor's Degree
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My husband and I went through a divorce. I was on the deed
My husband and I went through a divorce. I was on the deed but not the mortgage. We had a capital gain. He was sent a 1099 saying the sale was reported under his SSN. Do I owe half of the capital gain… read more
Stephen G.
Stephen G.
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Bachelor's Degree
7,336 satisfied customers
We sold our home, lived in years. we bought this house in
we sold our home, lived in for 42 years. we bought this house in 1973 for 51,000 and sold it for 180, 000. We then bought a home for 146,000. it is the last home sale we will make. My wife and I are b… read more
Lev
Lev
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I'm Sarolta.With my husband we purchased our house 23
Hi ,I'm Sarolta. With my husband we purchased our house 23 years ago.The property contained an additional lot which can be built on ,if public sewer was available.At that time the lot was used for the… read more
socrateaser
socrateaser
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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
jgordosea
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Bachelor's Degree
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Hello: My parents are elderly, in failing health and are
Hello: My parents are elderly, in failing health and are in the process of moving into a nursing home. They are selling their primary residence in Pennsylvania, and expect to receive perhaps $250,000 … read more
USTaxAdvising
USTaxAdvising
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Does my wife qualify for the Home Sale Capital Gain Exclusion?
Does my wife qualify for the Home Sale Capital Gain Exclusion? Background and facts: Lived in NJ from 1981 until 1996 when my employer transferred me to TX and we sold our NJ house at that time. Short… read more
PhillipB EA
PhillipB EA
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My father in law gave my husband and I a home on transfer of
My father in law gave my husband and I a home on transfer of deed for $1.00 consideration in 2005. We are now selling the home in June 2011 for alot less then the value we got it at in 2005. The prope… read more
Bill-the-CPA
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