Capital Gains and Losses

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Related Capital Gains and Losses Questions
Does Capital gains tax exemption for selling a house change
Does Capital gains tax exemption for selling a house change if I refinance a home or is it based on original purchase price ?For example being married can allow up to $500,000 in earnings without havi… read more
Stephen G.
Stephen G.
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I SOLD FARM PROPERTY 3 YEARS AGO AND AGREED TO CARRY A NOTE
I SOLD FARM PROPERTY 3 YEARS AGO AND AGREED TO CARRY A NOTE WITH A BALLOON PAYMENT DUE. THE BUYER OF MY PROPERTY CONVERTED THE PROPERTY INTO AN RV PARK WHERE SHE INVESTED AN ADDITIONAL $500,000.. SHE … read more
James Daloisio
James Daloisio
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Lost 300k have 100k left. If I withdraw it can I write the
lost 300k have 100k left. If I withdraw it can I write the loss off? … read more
JeffS6413
JeffS6413
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If my mother gifts me acreage is there some point where I
If my mother gifts me acreage is there some point where I wouldn't have to pay capital gains taxes if I sold the land? … read more
emc011075
emc011075
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Jim, would the sale of the land be considered a long term
Jim, would the sale of the land be considered a long term capital gain? My husband and I are retired but with our pensions and social security our gross income approaches 100K annually. I am really go… read more
JeffS6413
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Infinite domain forced farm property sale capital gains tax.
Infinite domain forced farm property sale capital gains tax … read more
TaxRobin
TaxRobin
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Vocational, Technical or Trade School
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My question is that I earned only 37,000 last year and plan
My question is that I earned only 37,000 last year and plan to sell a property in Washington State in 2020. Do I understand correctly that I will not be required to pay capital gains due to this cut off minimum? … read more
Carter McBride
Carter McBride
LLM
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I bought a townhome in Florida on March 2011 and lived there
I bought a townhome in Florida on March 2011 and lived there until may 2nd 2013. I have been renting it out ever since. I am planning to sell it now.1) the fact that I have used it as my primary resid… read more
emc011075
emc011075
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Partial 1031 Exchange Question. I am not sure how it works.
Partial 1031 Exchange Question. I am not sure how it works. I am selling a rental property at $680k. After 5% selling cost, and $300k adjusted basis, and the gain is $346k (let's not worry about recap… read more
Lev
Lev
Retired
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My primary residence has a home and 100 acres. Bought it
My primary residence has a home and 100 acres. Bought it over 10 years ago. We subsidized and sold 70 acres and retained the 30 plus the home. Reinvested the proceeds into reducing the mortgage on the… read more
Stephen G.
Stephen G.
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We are in Anoka, MN. We have 3.5 acres and plan on selling
We are in Anoka, MN. We have 3.5 acres and plan on selling approx. an acre. My husband originally bought a 1/2 acre from his father. When his father passed, he was willed approximately another acre. T… read more
emc011075
emc011075
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The city bought my house that flooded than I owed. The city
The city bought my house that flooded for more than I owed. The city paid off my mortgage as well. Do I owe capital gains on the difference?… read more
Arthur Rubin
Arthur Rubin
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I have searched online very specific scenario regarding
Hello, I have searched online for a very specific scenario regarding capital gains. We are selling our secondary home ( rental), and once it is sold, we are transferring the mortgage of $217k to a new… read more
Megan C
Megan C
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I have 45 acres of just farm ground - no buildings. If I
I have 45 acres of just farm ground - no buildings. If I sell this can I buy fewer acres of farm ground with a home on it and avoid Capital Gaines Taxes. If so, how much farm ground must I by for this… read more
Jonathan Tierney
Jonathan Tierney
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I own 35 acres in Illinois we want to sell it for $350,000.00
I own 35 acres in Illinois we want to sell it for $350,000.00 to a friend then reinvest it in a residual property in Colorado. Do we have to pay capital gain?… read more
Arthur Rubin
Arthur Rubin
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These questions are 1031 exchange: I sold a 4-plex for 950K.
These questions are 1031 exchange: I sold a 4-plex for 950K. I intended to buy a duplex for 700K and a condo for 300K for tax deferred exchange. I find a duplex but I cannot find a condo. Am I still q… read more
USTaxAdvising
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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
Enrolled Agent
Bachelor's Degree
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Follow-up question on Capital Gains Taxes: Could you define
Follow-up question on Capital Gains Taxes: Could you define "commercial enterprise" ? We cash rented our farm ground to a farmer and claimed this income on our taxes. Is this considered a commercial b… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
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271 satisfied customers
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Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

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