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
My mom transferred her home deed to me past 15years ago. Now
Hi, my mom transferred her home deed to me past 15years ago. Now I want to sell this 2nd home values $550k but will paying 24% in capital gains taxes(federal and Oregon) at $110k cost. Can I avoid thi… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,583 satisfied customers
Capital gains - I own and live in a property in California
Capital gains - I own and live in a property in California that I originally purchased in 2003. I think I refinanced it 12 to 15 years ago. I plan on selling it and could potentially net around $300,0… read more
Rick
Rick
MBA
12,924 satisfied customers
We are going to sell our vacation home of 34 years. Our
We are going to sell our vacation home of 34 years. Our capital gains will be approximately &4,000 how much will it cost in capital gains? … read more
bkb1956
bkb1956
Enrolled Agent/Real Estate & Corporate Paralegal
24,602 satisfied customers
I've got a question about capital gains taxes on a property
I've got a question about capital gains taxes on a property I own. The circumstances are different from the norm … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,696 satisfied customers
I purchased a second home last june and due to covid it
i purchased a second home last june and due to covid it became my primary residence, i just sold the home yesterday. making a profit of around 160k. i put down $60 and put an additional $20k in upgrad… read more
bkb1956
bkb1956
Enrolled Agent/Real Estate & Corporate Paralegal
24,602 satisfied customers
I bought a second home in January of 2018. It was my
I bought a second home in January of 2018. It was my mother's home she went into a nursing home. I bought it for $156,000. I sold it in December of 2020 for $255,000. Do I have to pay capital gains ta… read more
JeffS6413
JeffS6413
Principal/Advisor
Master's Degree
2,437 satisfied customers
I bought my townhouse for $93,000 40 years ago. I think I
I bought my townhouse for $93,000 40 years ago. I think I can sell my house for $1,500,000 less 5% sales commission. I've made about 20,000 improvements. Although I had to pay $60,000 in HOA Special A… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,583 satisfied customers
I have a rental property that I want to sell and I am
I have a rental property that I want to sell and I am looking for ways to avoid capital gains tax without reinvesting in another rental property. The property is presently being renovated to get it re… read more
bkb1956
bkb1956
Enrolled Agent/Real Estate & Corporate Paralegal
24,602 satisfied customers
If husband and I live in separate homes in California both
If husband and I live in separate homes in California both are our primary residence and we sell one, what are the tax implications for selling the one home (capital gains) and what if in future we ch… read more
bkb1956
bkb1956
Enrolled Agent/Real Estate & Corporate Paralegal
24,602 satisfied customers
I have a rental property that im thinking about selling it
i have a rental property that im thinking about selling it has been depreciated out since put into service if i sell it is it better to owe a high mortgage or do i want to pay it down as much as possi… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
I'm a single filer and still owe 142k on a 350k appraised
Hi, I'm a single filer and still owe 142k on a 350k appraised house. Selling house makes me over 250k in gain so any profit over 250k gets taxed at my marginal rate (20-30% lately). Question, if I pla… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
My husband and I are selling a vacation home that has
My husband and I are selling a vacation home that has generated some rental income. We purchased the house in 2008 for $285,000 and are selling for $315,000 (net approx $295,000 after the real estate … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
I have owned my home for 30 years. I am married. Cost of
I have owned my home for 30 years. I am married. Cost of home as land initially was about 175,000.00 I can probably net around 800,000.00 for it. … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,563 satisfied customers
I. We are residents of Florida. We have sold a home in
we are residents of Florida. We have sold a home in Wisconsin that we have had ro 43 years. We have made many improvements over the years. When do we pay the capital gains tax to state of Wis.. The closing was May 18,2018. … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
I am 86 ,my wife 78. we bought our home in oct 1980, for $
i am 86 ,my wife 78. we bought our home in oct 1980, for $ 155,500over the past 35 years we have made a lot of improvements to the property,totaling approx. $ 160,000. for age reasons ,we have decided… read more
Anne
Anne
Master Tax Preparer
2,601 satisfied customers
I sold my home in january 2015, closing costs were 42K, I
I sold my home for 635K in january 2015, closing costs were 42K, I bought the land in 1995 for 70k, I took a mortgage for 150K to build. In the past 20 years I spent 169K in repairs and improvements. … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,779 satisfied customers
In 2014 my wife sold a second property (not our primary residence)
In 2014 my wife sold a second property (not our primary residence) for $454K that she had allowed her mother to live in for 14 years without paying rent (my wife never lived there). She sold it for a … read more
Arthur Rubin
Arthur Rubin
Tax Preparer
Doctoral Degree
86 satisfied customers
i was widowed 7 years ago i could no longer afford to keep
i was widowed 7 years ago i could no longer afford to keep a vacation home purchased with my husbands family and i sold out to them because of money and they were theatening to move in the house witho… read more
Arthur Rubin
Arthur Rubin
Tax Preparer
Doctoral Degree
86 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