Capital Gains and Losses

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I'm purchasing a home from my mother inlaw. Single family
I'm purchasing a home from my mother inlaw JA: What are the assets or property involved here? Customer: Single family home JA: Anything else you want the Accountant to know before I connect you? Custo… read more
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Second opinion] Can a couple who are divorcing each claim a $250K capital gains tax exemption when they sell their house if they are not married the entire year of the sale and will file individual ta… read more
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I am selling my home in Oregon and have lived it in exactly
I am selling my home in Oregon and have lived it in exactly 2.5 years. We are a married couple and we will be selling the home for a a $50k profit (less $26K paid to Relators). We are moving to Califo… read more
emc011075
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My husband and I bought a primary residence house in Sept.
My husband and I bought a primary residence house in Sept. 2016 and sold our previous primary residence house in Jan. 2017. We took the Capital Gains tax exemption on the house we sold. We are in the … read more
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I am a US citizen living in California sold house in India
HI I am a US citizen living in California sold house in India recently, paid 20% tax and repatriated the gain now how much tax I need to pay federal and california … read more
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I bought a home in 2016. I moved my husband to a different
I bought a home in 2016. I moved my husband to a different nursing home because the nursing home was better and it is close to my daughter who is a nurse and can help me keep an eye on my husband. My … read more
emc011075
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Home appraised at $600,000 in Calif. Can I sale my house to
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ABC Accounting Group
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In California, there used to be a one-time "dump" of capitol
In California, there used to be a one-time "dump" of capitol gains on the sale of your primary residence if you were 55 or over, and met certain conditions. Is this still in place? If so, what are the… read more
emc011075
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I've lived in my home for 3 years, but technically my mother
I've lived in my home for 3 years, but technically my mother owned it for the first two. As of her death, I have inherited it. But that was just 1 year ago. To further complicate things, I didn't get … read more
ABC Accounting Group
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My parents bought a house 50 years ago for 30k...I inherited
My parents bought a house 50 years ago for 30k...I inherited it upon their death 30 years ago...it's value at that time was 200k It is now valued at approximately700k. I am a single, 65 year old disab… read more
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If I owned a house as my primary residence years, and
If I owned a house as my primary residence for 15 years, and rented it for the last 2 years before selling it. Does this property qualify for the 250k primary residence exemption or do I have to pay c… read more
JKCPA
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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.
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I asked this question already but it was closed, I did not
I asked this question already but it was closed, I did not get a clear response. I own a house that we lived in for 10 years. I moved out 2 years ago and had it rented for 1 year, now I want to sell t… read more
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I inherited land when my father died 6 years ago that was worth
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Since March of 2011, I am under contract to sell my primary
Since March of 2011, I am under contract to sell my primary residence in state of Washington with escrow to close April 2013. I will profit about 500K from the sale. (250K is then exempt from capital … read more
PhillipB EA
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We have lived in current home for 7 years however it was originally
We have lived in current home for 7 years however it was originally purchased by my sister. We lived together for 4.5 years before she married and moved into her own home elsewhere. I have continued t… read more
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We are trying to sell our house. It was our primary residence
We are trying to sell our house. It was our primary residence for 23 years. My brother would like to buy the house on land contract. Is it possible to sell to him on land contract and avoid capital ga… read more
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I have been living in a house belonging to my my ex-partner
I have been living in a house belonging to my my ex-partner with our six year old daughter for the last seven years. He purchased his own home five years ago, and has continued to pay the mortgage on … read more
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