Capital Gains and Losses

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I own a townhouse in Westminster CO about 11 years ago.
I own a townhouse in Westminster CO about 11 years ago. Lived in it a year and the rented it until from 8/1/2021 thru now. Planning to sell soon sand wold like to understand what taxes will be on my p… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
7,859 satisfied customers
Purchased house in 2000 for $200,000 with 100,000 in capital
Customer: Purchased house in 2000 for $200,000 with 100,000 in capital improvements. I have rented it out since 2003 depreciate it on my taxes for 10,000 per year and have lived in the house for the p… read more
levr-tax-gain
levr-tax-gain
Tax Advisor
61,587 satisfied customers
This tax question has to do with a primary residence and
This tax question has to do with a primary residence and capital gains. Assume you live in a house for several years and move to a different state, and then rent out that house for two years. Can you … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
7,859 satisfied customers
Here is the scenario: I sell my primary residence within 2
Here is the scenario: I sell my primary residence within 2 years of purchase as I move to a different state for job reasons. If I buy a new house in the new state within 30 days of selling my original… read more
Jason W CPA
Jason W CPA
Tax Manager
Master's Degree
160 satisfied customers
If I purchase a rental property and rent it for the first 2
Hi, if I purchase a rental property and rent it for the first 2 years, then move in as my primary home for more than 2 years then sell it, can I claim the $250k capital gain exemption? thanks!… read more
Barbara
Barbara
Enrolled Agent, Paralegal
24,938 satisfied customers
I own primary residence in California. If I rent a room out
I own primary residence in California. If I rent a room out to tenant for one year does that mean i have to claim depreciation and would that complicate things if I ever wish to claim the 2 years out … read more
James Daloisio
James Daloisio
Attorney
Doctoral Degree
3,279 satisfied customers
If i rent a room out in my primary residence for 3 years and
If i rent a room out in my primary residence for 3 years and then I continue to live in the house on my own for another 2 years can I still claim the full $250K CGT exclusion due to the 2 years out of… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
7,859 satisfied customers
Can I move into my rented home that is fully depreciated and
Second opinion] can I move into my long rented home that is fully depreciated and has a tax basis of $100,000 and live in it as my personal residence for 3 years then sell it for $500,000 with not inc… read more
taxmanrog
taxmanrog
Master's Degree
2,203 satisfied customers
Inquiring about a rental property that I plan to convert
Inquiring about a rental property that I plan to convert back into a primary residence. Owned the house since 2004 lived in it up to 2009 . Rented the house in 2009 to 2017 . Currently living in the h… read more
levr-tax-gain
levr-tax-gain
Tax Advisor
61,587 satisfied customers
I'm a realtor and I have a client who purchased a property
Hi! I'm a realtor and I have a client who purchased a property back in 2001. They stayed in there until 2012 and rented it out until this year. The tenant is moving out and they are thinking of moving… read more
Dave B
Dave B
Managing Director
Masters
30 satisfied customers
Want to sell a commercial property for $1,499,999 that my
Hello, I'm Kenny, and want to sell a commercial property for $1,499,999 that my wife and I purchased 14 1/2 years ago in Southern California for $400,000. We still owe $257,000 and spent $7,500 in upg… read more
taxmanrog
taxmanrog
Master's Degree
2,203 satisfied customers
We are planning to move from Denver, CO, to the D.C. area
We are planning to move from Denver, CO, to the D.C. area (VA, MD, DC) next year. We have two houses here in Denver, the one we moved to 7.5 yrs ago and lived in with our family, which has almost doub… read more
Barbara
Barbara
Enrolled Agent, Paralegal
24,938 satisfied customers
Here is my situation I am trying to determine my tax
Here is my situation I am trying to determine my tax liability for: - my wife and I bought a condo in May 2013 - moved for a work relocation (50+ miles away) in May 2014 - instead of selling at the ti… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
24,772 satisfied customers
Capital Gains question: We have 1 home we own which is in
Capital Gains question: We have 1 home we own which is in Texas, we have rented it out for the past 6 years while we have been on temp assignments. We are living in ND in a rented home and have been f… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
3,230 satisfied customers
My primary residence is in Texas, I rent a home in ND as we
My primary residence is in Texas, I rent a home in ND as we have a temp assignment up here. We rent out our texas home while away on assignments. Now I am thinking of selling our Texas house. What is … read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
3,230 satisfied customers
I on a 3unit building n San Francisco. I live in top flat.
I on a 3unit building n San Francisco. I live in top flat. Is I sell what would I owe in Capital gains. Property has been paid off for years. I am 67. Would it be best to add daughter to ownership if … read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
Q.1 Do J&R qualify for the one-time $500K capital gains exclusion?
Q.1 Do J&R qualify for the one-time $500K capital gains exclusion? J&R are a married couple who file jointly: both are U.S. citizens and residents. In 2000, J&R purchased 66L (a condo in NYC), and liv… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
24,772 satisfied customers
Looking for answers on capital gains ruling. We bought a 2
Looking for answers on capital gains ruling. We bought a 2 family in 1982 for 74,000. This was our primary home until 2008, the rental portion of the home was not rented after January 2006. So no inco… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
3,230 satisfied customers
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