Capital Gains and Losses

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My mother's home was deeded into her name and mine due to
My mother's home was deeded into her name and mine due to her age and health. She passed away and the house is being sold. I would like to provide profits to my siblings but I don't know how much in t… read more
Barbara
Barbara
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My wife and I own a house with my mother in law. It was my
My wife and I own a house with my mother in law. It was my wife's childhood home and it was initially owned by her mom for 25 years. She added us to the title last year.She passed away about six month… read more
emc011075
emc011075
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I am 66, retired and earn 390.per month from Social
I am 66, retired and earn 390.per month from Social Security. I file married, filing separately. My daughter (32 and working in a $70,000 year job) and I have a $39,000 check coming from our portion o… read more
Stephen G.
Stephen G.
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My 91 year old mother sold farm land in 2019 - for 96,400
My 91 year old mother sold farm land in 2019 - for 96,400 (father bought for 5400 in 1945). She did not receive a 1099S. And she has not filed since the 1990's - only had social security income. I hav… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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I have a serious capital gains question and don't trust my
I have a serious capital gains question and don't trust my local small town H and R Block people will know how to do this. Can you help me or direct me to a seasoned CPA? Thank you so much … read more
Barbara
Barbara
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My mother quit claimed her home to my sister and myself 9
My mother quit claimed her home to my sister and myself 9 years ago with the stipulation that she could live there until she passed away. She passed away in April and we just sold the home for $253,00… read more
emc011075
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In 2017 relative sold a parcel of land for $50,000 under
In 2017 relative sold a parcel of land for $50,000 under threat of utility company forcing sale. She got land signed into her name in 2012 by her mother. Her mother died 2014. Signed into her name ear… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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A mother gifts a piece of highly appreciated property to her
A mother gifts a piece of highly appreciated property to her son on the condition that the son will gift some money to his siblings to make it all fair. She could have sold the property to him and the… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
21,156 satisfied customers
One more scenario- If I remove myself from a deed of my moms
Ok! One more scenario- If I remove myself from a deed of my moms house, do I have any obligation if the property is sold in regards ***** ***** capital gains? I'm reading it As: if you are on title9 o… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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We sold our house and an adjacent lots (one on each side)
We sold our house and an adjacent lots (one on each side) separately after owning them for 28 years. The total gain is less than $500k, will there be capital gains tax. My wife and I are seniors. … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
19,083 satisfied customers
My wife Daughter and I are selling a house that has us all
My wife Daughter and I are selling a house that has us all listed as owners. We want to split up the proceeds with some profit going to our daughter as he has been living in the house and paying the m… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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I live in Rhode Island and so did my 91 year old Mother. She
I live in Rhode Island and so did my 91 year old Mother. She just sold her home in May. My name as well as my brothers, sisters and of course my Mothers name was on the deed at the time of the sale. M… read more
emc011075
emc011075
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I am hoping someone can help with this issue: My mother sold
I am hoping someone can help with this issue: My mother sold an investment property (Property A) in the fall of 2006 and was working with a 1031 exchange company to reinvest at equal or greater value.… read more
Stephen G.
Stephen G.
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If I am selling a home that was financed in my mother's name
If I am selling a home that was financed in my mother's name but I paid all the mortgage payments and etc, and she passed away 10 years ago and I have been renting it to a friend and his wife who are … read more
Stephen G.
Stephen G.
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Capital gains on property quit claimed to children
My mother purchased a condo in 1979 in her name. She prepared a quit claim deed to my brother and I in 1999. The original purchase price was around 45,000. My mother assumed the original loan at the t… read more
Stephen G.
Stephen G.
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My mother-in-law is 83 years old. She has two children and
My mother-in-law is 83 years old. She has two children and 9 grand children. She has a trust for her estate which at this time has an approximate value of $1.75 million, and currently all the assets a… read more
R. Klein, EA
R. Klein, EA
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US income tax question. Ten years ago, my mother put my name
US income tax question. Ten years ago, my mother put my name on the deed to her condo because she wanted me to have it upon her death. We were joint owners. In May 2011, she was admitted to a long-ter… read more
R. Klein, EA
R. Klein, EA
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269 satisfied customers
good afternoon. we are hoping to sell my mothers house - she
good afternoon. we are hoping to sell my mothers house - she is 79 and its just too big for her. She has limited income, but the house is on 20 acres and in total is worth close to $500,000. we have t… read more
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Bill-the-CPA
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