Capital Gains and Losses

Capital Gains Tax Questions? Ask a Tax Advisor for Answers ASAP

Connect one-on-one with {0} who will answer your question

Related Capital Gains and Losses Questions
Friend is trying to sell or give away40 acres for 500
friend is trying to sell or give away40 acres for 500 dollars to another friend not relative not his main residendce .who payes the capitel gains the give or the receiver .and the n they are telling h… read more
ALEX O
ALEX O
Partner O & G Tax
Master's Degree
5,620 satisfied customers
Purchased 42 acres of land in 1991 and built a home on it in
Hello. Don purchased 42 acres of land in 1991 and built a home on it in 1997. Jointly, we purchased 58 acres of adjoining land in 2000. We married in 2001. We took permanent residence in 2005. Don die… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,599 satisfied customers
It will take a minute to explain so I'm here but I'll be
It will take a minute to explain so I'm here but I'll be typing … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,599 satisfied customers
Jim, would the sale of the land be considered a long term
Jim, would the sale of the land be considered a long term capital gain? My husband and I are retired but with our pensions and social security our gross income approaches 100K annually. I am really go… read more
JeffS6413
JeffS6413
Principal/Advisor
Master's Degree
2,441 satisfied customers
Maybe. Is this a chargeable service? How do you arrive at a
How do you arrive at a Step up cost basis for property inherited that has been in the family since the early 1920s … read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,920 satisfied customers
I purchased our home that sets on 10 acres of land in 2006.
I purchased our home that sets on 10 acres of land in 2006. In 2016 I sold, the gas rights for $50,000. I filed for an extension on my 2016 taxes and sent an estimated payment in that showed reporting… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,702 satisfied customers
A client of mine called with a ???. his mother in law has
a client of mine called with a ???. his mother in law has passed away, leaving the estate to her husband. in the estate is farmland that was in her family forever, it was inherited by her years ago. t… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,563 satisfied customers
I want to sell some land in North Carolina that is part of a
I want to sell some land in North Carolina that is part of a farm. When I inherited it fifteen years ago it was valued at twenty thousand dollars. It's tax value now is forty five thousand dollars. A … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,702 satisfied customers
We are in Anoka, MN. We have 3.5 acres and plan on selling
We are in Anoka, MN. We have 3.5 acres and plan on selling approx. an acre. My husband originally bought a 1/2 acre from his father. When his father passed, he was willed approximately another acre. T… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,702 satisfied customers
My grandparents purchased land 60 yrs ago in a country Asia
My grandparents purchased land 60 yrs ago in a country Asia where they lived, and they passed away in the 1950s. They had 4 children (1 being my father). My father left the country our family in the e… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,779 satisfied customers
I inherited 40 acres of wooded land in 2006 and if I sell this
I inherited 40 acres of wooded land in 2006 and if I sell this in 2013 for $80,000, what amount will be taxed?… read more
PhillipB EA
PhillipB EA
Accountant
Bachelor's Degree
130 satisfied customers
My Dad passed away 6 years ago and left 5 acre property with
My Dad passed away 6 years ago and left 5 acre property with house. Will specifies my sister is to receive 1 acre and house, and my brother and I are to split the remaining property upon sale. We will… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
I am 60% share holder in a family land corporation that my
I am 60% share holder in a family land corporation that my father holds 51% voting shares. My father has dementia and is being poorly controlled by a new wife. I seek separation from the corporation a… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,599 satisfied customers
Follow-up question on Capital Gains Taxes: Could you define
Follow-up question on Capital Gains Taxes: Could you define "commercial enterprise" ? We cash rented our farm ground to a farmer and claimed this income on our taxes. Is this considered a commercial b… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
271 satisfied customers
What will be our, myself and 2 sisters Capital Gains Tax on
What will be our, myself and 2 sisters Capital Gains Tax on a 300 Acre farm that we will inherit and possibly sell in the future? The farm has been in the family since 1860.… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
271 satisfied customers
Finishing 2011 taxes in Turbotax. Inherited 1/5 of undivided
Finishing 2011 taxes in Turbotax. Inherited 1/5 of undivided 20 acres in 2000 including mineral rights. In 2011 sold the royalty rights for the minerals for part of the land for $10,000. Was told to e… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
271 satisfied customers
In 2009 upon my uncles passing my sister, dad, and I inherited
In 2009 upon my uncles passing my sister, dad, and I inherited equal shares of his 120acres=fair market value $1100 an acre. September 3, 2011 my father passed away and his adjoining 120acres appraise… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
271 satisfied customers
My brother and I are considering accepting an offer on a small
My brother and I are considering accepting an offer on a small piece of property(about 1/5 of an acre) on which several cell tower companies are located. We have been receiving rent of around $1,500 a… read more
FredStevens
FredStevens
Accountant
Bachelor's Degree
37 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

jgordosea

jgordosea

Enrolled Agent

173 satisfied customers

As an Enrolled Agent you can be ensured of my competence in income tax matters.

PhillipB EA

PhillipB EA

Accountant

130 satisfied customers

Enrolled Agent with 8 years experience in tax return preparation, representation, and taxpayer consultation

Arthur Rubin

Arthur Rubin

Tax Preparer

86 satisfied customers

Over 22 years of tax preparation experience.

Bill-the-CPA

Bill-the-CPA

Certified Public Accountant (CPA)

55 satisfied customers

Seasoned professional with over 15 years in public accounting. Income, sales and property tax. Also accounting/tax software.

FredStevens

FredStevens

Accountant

37 satisfied customers

Experienced in business, accounting and tax planning for individuals, small/medium sized businesses and non-profit organizations

Shane-CPA

Shane-CPA

CPA, PFS, CGMA

11 satisfied customers

Shane Northrop is a Certified Public Accountant, Personal Financial Specialist and a Chartered Global Management Accountant

R. Klein, EA

R. Klein, EA

Enrolled Agent

271 satisfied customers

Over 20 Years experience in resolving tough tax cases

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x