Capital Gains and Losses

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Related Capital Gains and Losses Questions
Just received an IRS bill for 200,000 for sale of my house
Just received an IRS bill for 200,000 for sale of my house in 2018. Purchased for $157,000 in 1997, sold for 470,000 in 2018. It was refinanced twice during a 20 year marriage that ended in divorce. p… read more
Barbara
Barbara
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20,979 satisfied customers
I gave my Husband $233,000 of the Capital Gains Profit. His
I gave my Husband $233,000 of the Capital Gains Profit. His income is $13,000 a year so he is exempt from paying Capital Gains due to his Low Income. Is this Correct since his Income is less than $40,… read more
JeffS6413
JeffS6413
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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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I just sold a rental property 1-29-20. It belonged to my
Second opinion] 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 c… read more
Carter McBride
Carter McBride
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Second opinion] give me a sec. I am trying to sell my rental
I am trying to sell my rental property in March 2020. I need to know if I have to pay CGT on the sale profit. … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,037 satisfied customers
I have a rental property that was sold, and she netted
Hi I have a rental property that was sold, and she netted 43126.57, and when it asks for the total sales price, it doesn't give a place where you can put the deductions from the sales, and when I ente… read more
Lane
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Doctoral Degree
21,037 satisfied customers
Divorced and received rental property in the settlement.
Divorced and received rental property in the settlement. Selling the house and I keep the equity. What are the tax implications both on him and on me? … read more
Barbara
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20,979 satisfied customers
My husband and I bought a primary residence house in Sept.
My husband and I bought a primary residence house in Sept. 2016 and sold our previous primary residence house in Jan. 2017. We took the Capital Gains tax exemption on the house we sold. We are in the … read more
Barbara
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I have a question for a tax professional who is familiar
Hi, I have a question for a tax professional who is familiar with capital gains and family law.My ex husband and I got divorced in 2009, amicable divorce. When married we purchased a house in 2004 for… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
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My son purchased a home for $265,000 for my wife and me, as
My son purchased a home for $265,000 for my wife and me, as we were unable to get a loan following a short sale. We put up the down payment and made the monthly mortgage payments. After 3 years we wer… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,360 satisfied customers
My Ex husband and I purchased rental house several years ago
Hello, My Ex husband and I purchased rental house several years ago for 145k. When the housing boom hit and the property went up in value a second mortgage was taken out. House is upside down now. Sin… read more
PDtax
PDtax
Owner
Master's Degree
6,509 satisfied customers
My husband and his first wife divorced 8 years ago. He bought
My husband and his first wife divorced 8 years ago. He bought her out of an investment property appraised at $265k that he had acquired before their marriage for @$90k. The two had refinanced during t… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,037 satisfied customers
This (hopefully) isn't too long & complicated. Here
Hello, This (hopefully) isn't too long & complicated. Here goes: 6/2008 I buy a house for 190K (with agreement to seller if I move to sell back to him.) I make monthly payments on a promissory note fo… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
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My husband and I went through a divorce. I was on the deed
My husband and I went through a divorce. I was on the deed but not the mortgage. We had a capital gain. He was sent a 1099 saying the sale was reported under his SSN. Do I owe half of the capital gain… read more
Stephen G.
Stephen G.
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8,761 satisfied customers
Looks like i'm getting the house in the divorce. I will need
looks like i'm getting the house in the divorce. I will need to sell it though. If I reinvest the profits by buying a condo (minus 250,00) will I have to pay capital gains? How long to I have to buy n… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
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how long do I have to reinvest income received from the sale
how long do I have to reinvest income received from the sale of residential property. im recently divorced and gained 55000 dollars as a settlement. he kept the two properties and I received the money… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,761 satisfied customers
My ex husband bought our house in 1993 for 450. Loan was for
My ex husband bought our house in 1993 for 450. Loan was for 325. It was in his name only until 2003, when we refinanced for 425 in both names. In 2004, we got divorced and I had to buy him out for ex… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
173 satisfied customers
Since March of 2011, I am under contract to sell my primary
Since March of 2011, I am under contract to sell my primary residence in state of Washington with escrow to close April 2013. I will profit about 500K from the sale. (250K is then exempt from capital … read more
PhillipB EA
PhillipB EA
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Bachelor's Degree
130 satisfied customers
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jgordosea

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