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
Scenario: Residential Rental property bought in Sept 2010
Scenario:Residential Rental property bought in Sept 2010 and sold in Dec 2020 Straight line Depreciation has been claimed for all years that the property has been a rental.Purchase cost (purchase pric… read more
Carter McBride
Carter McBride
Professor
9,313 satisfied customers
I have a loss carry forward of $2M on my 2018 federal tax
I have a loss carry forward of $2M on my 2018 federal tax return. I'm about to sell our property in Delaware and will have a $1M capital gain. Can the loss carry forward be used to off set the Delawar… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,543 satisfied customers
I had a large capital loss (around $400,000) in 2010 when my
I had a large capital loss (around $400,000) in 2010 when my commercial rental property (a strip shopping mall) was foreclosed (actually a deed in lieu of foreclosure) and I signed a deficiency note f… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,563 satisfied customers
I have a few rental properties and I've just sold one last
I have a few rental properties and I've just sold one last week. I have a few questions: 1. Can I use my losses to offset my depreciation in this property. All of my properties are under my name for t… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,227 satisfied customers
How can you carry forward a $200k passive loss from a real
How long can you carry forward a $200k passive loss from a real estate development to offset any future tax liability?… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,898 satisfied customers
My wife and I bought a house in 2006, lived in it until
My wife and I bought a house in 2006, lived in it until 2009, could not sell because value dropped 90,000. Rented the house from 2009 - 2017. Tax preparer depreciated property 27.5 years 12,766 per ye… read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
1,341 satisfied customers
Confirm and or correct my understanding of the following in
Please confirm and or correct my understanding of the following in regards ***** ***** off a lose vs a gain,(investment properties: … read more
Tax.appeal.168
Tax.appeal.168
Principal
8,188 satisfied customers
Pearl. I sold my rental property in 2017. I rented it for
Hi, Pearl. I sold my rental property in 2017. I rented it for ten years and never reported carryover losses. I lost money every year. I have a capital gain and the carryover losses would eliminate it.… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
My question is regarding passive activity losses for rental
Hello,My question is regarding passive activity losses for rental property.I disposed of my rental property through the 1031 Exchange and received a boot, since the replacement property cost less than… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
9,861 satisfied customers
In 2007 I owned and began renting a townhouse. Every year
In 2007 I owned and began renting a townhouse. Every year resulted in a loss which I was not able to claim because the combined incomes of my wife and I were too high. I claimed depreciation in each y… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,227 satisfied customers
If we sell a home that we have been renting for less than
If we sell a home that we have been renting for less than the original purchase, is that considered a capital gains loss? And can we offset the loss against other capital gains and roll the excess for… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,563 satisfied customers
Can you please clarify if I can claim total loss from sale
Can you please clarify if I can claim total loss from sale of rental property held more than 5 years, by checking "total taxable disposition" on Sch E worksheet… read more
ABC Accounting Group
ABC Accounting Group
Bachelor's Degree
1,071 satisfied customers
I have complex situation...i own llc (husband & wife only)
i have complex situation...i own llc (husband & wife only) that holds land and office buildings in canada with bunch of investors. For example the land parcel, there are 35 other investors with me. Pa… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,778 satisfied customers
I live in California. We file a joint return. My wife has
I live in California. We file a joint return. My wife has considerable capital gain to report. I have been sitting on about $165K of capital loss if I sell a worthless stock (TSTC), and I have been si… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
271 satisfied customers
I am a 60 year old male . Probably retire in 5 years. I
I am a 60 year old male . Probably retire in 5 years. I own a rental property and have accrued a $189,000 passive loss on it over the past 9 years or so. Do you have suggestions for how I can best str… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
271 satisfied customers
We have been carrying a lot of capital loss from 2008 able
We have been carrying a lot of capital loss from 2008 able to deduct only $3K each year. I have a rental house (a duplex, which I don't live in) that I would like to sell to myself at its current (app… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
23,898 satisfied customers
Does california allow past carry over stock loses to offset
Does california allow past carry over stock loses to offset capital gains on a rental property sale in 2015 and what is the actual rate of taxation on the balance? Is it taxed at 15% or as regular inc… read more
Arthur Rubin
Arthur Rubin
Tax Preparer
Doctoral Degree
86 satisfied customers
I have a $1 million loan on a $2 million house. I became disabled,
I have a $1 million loan on a $2 million house. I became disabled, could no longer work, and now I'm living on social security in a small rented apartment because I can't afford the house payments. I … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,778 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