Capital Gains and Losses

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I need help completing form 4797 and Schedule D. I'm
I need help completing form 4797 and Schedule D. I'm generally familiar with Capital Gains and Depreciation Recapture and have already estimated and paid in the taxes. It is the specific completion of… read more
JeffS6413
JeffS6413
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Master's Degree
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We have a 22 year-old who attends collage and had NO income
Hello, We have a 22 year-old who attends collage and had NO income in 2018.This year I am considering including him as dependent, BUT… He managed to get capital losses in 2018 and capital gains in 201… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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I realized this year, while doing my taxes for 2018, that I
Hello, I realized this year, while doing my taxes for 2018, that I had an error in my 2017 tax return... I used Turbo Tax, and I don't know how, but it didn't take my correct information from my prior… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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Tax return amendment: I need help understanding how to carry
Tax return amendment: I need help understanding how to carry back/carry forward additional losses / NOL from a Ponzi scheme theft loss reported in 2016. … read more
PDtax
PDtax
Owner
Master's Degree
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Invested in promissory notes in a scheme which has now been
Invested in promissory notes in a scheme which has now been identified by the bankruptcy court as a Ponzi scheme--cannot use the Ponzi Safe Harbor Act method of reporting because the main culprit has … read more
taxmanrog
taxmanrog
Master's Degree
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I recently sold a property. The sale price was $835k. The
I recently sold a property. The sale price was $835k. The cash payout from fire damage was $447k.The adjusted basis of property is aprox $382k.What would I owe for federal tax and CA? And when should … read more
emc011075
emc011075
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Bachelor's Degree
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What will this service cost me? if i asked my question,
if i asked my question, would i get the cost of the answer before it was answered? … read more
Arthur Rubin
Arthur Rubin
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Doctoral Degree
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I understand that I can carry forward previous stock losses
I understand that I can carry forward previous stock losses to offset current capital gains in the stock market. My question is what if I don't want to use all of my losses from previous years to offs… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,914 satisfied customers
Our house burned down in Dec 2017. When you declare a total
Our house burned down in Dec 2017. When you declare a total loss, home and business equipment, if that amount is higher then what your insurance pays you (2 separate policies) does that offset any tax… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,914 satisfied customers
Chad, On December 9th, you helped me out with some good
Good day Chad,On December 9th, you helped me out with some good answers regarding my 2017 income tax. Now I'd like to finalize my numbers. I have to determine whether or not I need additional capital … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
I own a condo overseas. It's rented to my uncle at lower
I own a condo overseas. It's rented to my uncle at lower than FMV price (about $7K/year). Therefore I cannot consider it as a business (by law) and I can deduct on schedule E essentially only the prop… read more
Barbara
Barbara
Enrolled Agent, Paralegal
21,348 satisfied customers
I am missing a capital gains LOSS this year and see that in
I am missing a capital gains LOSS this year and see that in 2012 I had a carryover of over $12,000 and it did not carryover to 2013 with the 2013 version of turbotax. How do I recover these lost deduc… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
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I have a question about capital loss rollover I basically
I have a question about capital loss rollover I basically lost about $40,000 messing around with penny stocks in an 18 month period. My situation is this... TAX YEAR CAPITAL GAIN/LOSS CLAIMED LOSS on … read more
Stephen G.
Stephen G.
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Bachelor's Degree
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I bought a 2-Family house 25 years ago. I immediately got a
I bought a 2-Family house 25 years ago. I immediately got a tenant and had 2 housemates share the second apartment with me. I split the house 22% for the apartment and 52% for the part I lived in (lea… read more
Stephen G.
Stephen G.
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Bachelor's Degree
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struggling between schedule C and SE for real estate. I have 4 properties. 1 that we lived
struggling between schedule C and SE for real estate. I have 4 properties. 1 that we lived in from 1990 20 2012 and was rented in 2012-2013. Renters moved out Jan 1, 2014 and left us a mess! We repair… read more
Stephen G.
Stephen G.
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Hello, I am doing my 2012 taxes. I have an online LLC business
Hello, I am doing my 2012 taxes. I have an online LLC business on the side, which I dont have any employees, for the first time this year I didnt loose money with it and I am on the plus side for arou… read more
olwagner
olwagner
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Can someone help walk me through the schedule d (form 1-40)
can someone help walk me through the schedule d (form 1-40) i filed in 2010 and the investment co i use didnt send the realized gains and losses, so now i need to fill out the schedule d i have maybe … read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
How would my capital gains tax be computed on this senerio Vacation
How would my capital gains tax be computed on this senerio: Vacation home purchased in 1995 for $179,000 - my spouse and I own 2/3 personally and a friend if 1/3 personally. This home was destroyed by… read more
jgordosea
jgordosea
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173 satisfied customers
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jgordosea

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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.

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