Capital Gains and Losses

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I need some advice re: cap gains tax on my parents' home.
I need some advice re: cap gains tax on my parents' home. Both of them are deceased (dad before mom). Since my name is ***** ***** along with mother, house became mine when she passed. I am currently … read more
Mark Anderson
Mark Anderson
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Doctoral Degree
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On Monday, I got some help on Capital gains and depreciation
On Monday, I got some help on Capital gains and depreciation recapture. I have a good handle on both of those for Federal Tax purposes. I'm unclear on the state tax part. I am an Arizona resident, but… read more
bkb1956
bkb1956
Enrolled Agent/Real Estate & Corporate Paralegal
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I sold a house for $600000 and originally bought it for
I sold a house for $600000 and originally bought it for $180000. I lived in home 25 years. My regular income the year I sold was app. $33,000. Does IRS consider the profit from sale of my house to be … read more
emc011075
emc011075
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Bachelor's Degree
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I'm a disabled American vets my mother put the house in a
I'm a disabled American vets my mother put the house in a trust. My brother is the executor of the trust. Each of us will have about $460,000 each. … read more
James Daloisio
James Daloisio
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We sold a house in Baltimore in 2017 and am interested in
We sold a house in Baltimore in 2017 and am interested in finding out the capital gains tax. It was a rental property. … read more
emc011075
emc011075
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Bachelor's Degree
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I want to sell our rental house and pay off our house. Can
I want to sell our rental house and pay off our house. Can you get around paying capital gain tax. We are in our 70s … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
19,083 satisfied customers
I have a capital gains question relative to sale of a
Good afternoon: I have a capital gains question relative to sale of a mixed-use house (rental/residence) and was hoping you could provide some guidance. Please be prepared for follow-up questions and … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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My parents put the house in my kids name one got her
my parents put the house in my kids name one got her inheriterance from cash spent on new auto 3 aresplitting house sale house was in cho;drens name title co is giving us 1099 to pay taxes on my son a… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
19,083 satisfied customers
My son purchased a home for $265,000 for my wife and me, as
My son purchased a home for $265,000 for my wife and me, as we were unable to get a loan following a short sale. We put up the down payment and made the monthly mortgage payments. After 3 years we wer… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
35,708 satisfied customers
We have a property to sell we will acquire capital gains of
we have a property to sell we will acquire capital gains of approx 100,000. The house is currently a rental property we want to sell. Do we have to pay capital gains right away, in 2 years? Can we put… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
5,141 satisfied customers
I moved to a retirement community and I gave my house to my
I moved to a retirement community and I gave my house to my children. My children wanted to keep the house they grow up in. We are selling my daughter's house instead. The plan is for her repay me the… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
5,141 satisfied customers
There this question is Real Estate Attorney! Years
Hi there this question is for a Real Estate Attorney! Years ago more than 7 or 8 years ago my sister bought a house in texas before she was married then she found someone to live with and did not want… read more
bkb1956
bkb1956
Enrolled Agent/Real Estate & Corporate Paralegal
17,641 satisfied customers
I purchased my home in 1994. I lived in the home yrs, got
I purchased my home in 1994 for 250k. I lived in the home for 10 yrs, got divorced, rented home for 5 yrs and have lived in the home from 2009-2016. The house is in my name. I sold the house for 750k.… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
19,083 satisfied customers
If my parents gave me a house $0 gift on nov 2015 and i sold
if my parents gave me a house $0 gift on nov 2015 and i sold the house on 2016. what would be my capital gain and how much would i be taxed on if the value of the home on nov 2015 was $189k and the ho… read more
Jason M. Tyra, CPA
Jason M. Tyra, CPA
Principal
Master's Degree
168 satisfied customers
I own a house (rental property) with my brother through an
Hi there, I own a house (rental property) with my brother through an LLC. We are selling this house (#1) next month with a $100,000 gain. I have another property under contract (#2) and hope for a 130… read more
PDtax
PDtax
Owner
Master's Degree
5,608 satisfied customers
My Grandfather who passed away had his house transferred into
My Grandfather who passed away had his house transferred into a trust that was split between My Aunt, Mother (Deceased), Uncle, and Myself. We are fixing it up to sell, will we be hit with Capital Gai… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
5,141 satisfied customers
Dear Randaltax, As a follow up to my cap gains question I
Dear Randaltax, As a follow up to my cap gains question I would like to ask a follow up. Background: 4 inherited a house FMV $300K at death. Split basis ($300/4)$75K. The house was sold for $370K gros… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
269 satisfied customers
Hi. My husband and I have owned an investment property for
Hi. My husband and I have owned an investment property for about 12 years. We're in our mid 50s and are thinking of selling but are wondering about the tax implications. Any advice would be appreciate… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
269 satisfied customers
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