Capital Gains and Losses

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I am considering selling a home in California and using
I am considering selling a home in California and using equity to buy two houses in other states. Possibly Indiana and Florida. I would like to know tax obligations for capital gains, and rolling over… read more
emc011075
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I own a house in AL that we bought in 2000. We lived in the
I own a house in AL that we bought in 2000. We lived in the house until 2003. We moved to SC for a job, but could not see the house, so we have been renting. If I sell the house, do I have to pay capi… read more
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If i buy a new house for $380k and sell my current house for
if i buy a new house for $380k and sell my current house for $680k do i have to pay capital gains … read more
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We are Looking at purchasing a property for $155,000 and we
Hi there. We are Looking at purchasing a property for $155,000 and we are selling another property for $197,000 will this allow us to use capital gains and not pay a penalty? … read more
emc011075
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My wife inherit a house in Accra, Ghana and we're selling it
My wife inherit a house in Accra, Ghana and we're selling it for 8,000,000 she live there for 2 years . Do we have to pay tax's there and here in United States and pay Capital gains? … read more
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A 501(c)(7) corp owns an off-campus fraternity house. The
A 501(c)(7) corp owns an off-campus fraternity house. The University institutes a new policy requiring all undergrads to live on campus, meaning the fraternity will no longer be able to house student … read more
Mark Anderson
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Second opinion] I sold my second house which I lived 6
Second opinion] I sold my second house which I lived 6 months per year for 22 years. What will be my capital gain if I made $100K profit… read more
emc011075
emc011075
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I just sold a rental property 1-29-20. It belonged to my
I just sold a rental property 1-29-20. It belonged to my husband when we got married in 02/2015. I refinanced it with my husband in 08/2015. My husband died 05/2018. Do I have to pay capital gains tax… read more
Tax.appeal.168
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Hope you can help. Bought my first parents house in UK in
Hi Pearl hope you can help. Bought my first parents house in UK in 2002 for GBP 175,000. Lived in uk until 2007 then moved to USA firstly on working visa then green card then citizen. Planning on sell… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
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In 2003 we sold rental property for 1,600,000 and did a 1031
in 2003 we sold rental property for 1,600,000 and did a 1031 exchange to use money as down payment on property i Illinois. If we sell tje new property do we still owe capital gains on the $1,600,000? … read more
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If i reninvest in the phillipines property how much capital
if i reninvest in the phillipines property how much capital gains do i pay … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
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I bought a property for $100k. I have a buyer for $400k with
I bought a property for $100k. I have a buyer for $400k with owner financing. If I hold a note for $300k do i pay capital gains on $400k?… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,696 satisfied customers
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
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My mother recently moved to an assisted care facility. The
My mother recently moved to an assisted care facility. The family is now deciding on whether to rent her house out or to sell. The concern of renting is that we might have a large capital gain tax to … read more
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Before I married in 2014 I sold my home and didn't have to
Hi, before I married in 2014 I sold my home and didn't have to pay capital gains tax because the gain was less than $250,000. Now this year I am selling my share of a condo co owned with my sister tha… read more
PhillipB EA
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I did a 1031 exchange to buy this property. I rented it out
I did a 1031 exchange to buy this property. I rented it out for 2 years, and have now lived in it for 5 years as my home. If I sell it now, do I owe capital gains on the previous property as well as t… read more
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I have a rental home that has been a money pit for several
I have a rental home that has been a money pit for several years now, but have not been able to afford to sell it due to the decrease in value. It is getting close to the of point where I think I migh… read more
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i just sold a rental property with houseboat zoned commercial
i just sold a rental property with houseboat zoned commercial and have not lived on property in last five years. sale was 600k, purchase price was 232k with 120k in improvements; if i find another pro… read more
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