Capital Gains and Losses

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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
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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
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Jim. Now for the more straight forward question concerning
Hi Jim. Now for the more straight forward question concerning the sale of land. When my mother passed away 27 years ago, my brother and I split property and assets with a family agreement. At the time… read more
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Our Revocable Living Trust was granted a vacant parcel of
Our Revocable Living Trust was granted a vacant parcel of land, which being the remnant of our great grandfather's farm (in NC), became land-locked by other development and infrastructure. As the parc… read more
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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
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I live in ma but sold a lot of land and a house in nh will I
I live in ma but sold a lot of land and a house in nh will I have to pay state capital gains. The house was a rental and I did not live there for the past 5 years. The land I subdivided before I sold … read more
Robin D.
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10 years ago my grandparents bought some 2 acre land for
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I am thinking of selling some lots I own in a subdivision. I
I am thinking of selling some lots I own in a subdivision. I have owned them free and clear since 1999 when I bought 9 lots and 1 small house, all for 375,000. I am thinking of selling a couple of the… read more
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I own 35 acres in Illinois we want to sell it for $350,000.00
I own 35 acres in Illinois we want to sell it for $350,000.00 to a friend then reinvest it in a residual property in Colorado. Do we have to pay capital gain?… read more
Arthur Rubin
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We sold 160 acres of our farm in the fall of 2012. We had owned
We sold 160 acres of our farm in the fall of 2012. We had owned it for about 40 years. We was paid $2300 per acre before lawyer and abstract fees. Our normal income is about $40,000 a year. What perce… read more
USTaxAdvising
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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
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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
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We are selling our home and farmland and need more info about
We are selling our home and farmland and need more info about capital gains taxes and how it will effect our income taxes, etc. Can you offer any suggestions?… read more
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My mother wants to give me her small rental trailer park and
My mother wants to give me her small rental trailer park and 2 other seperate rental lots. If she gives them to me will I have to pay capitol gain taxes? Only one lot is rented out as she's no longer … read more
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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
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My wife will inherit land worth aproximatly 9000 per acre
my wife will inherit land worth aproximatly 9000 per acre from father but it is in will that her brothers get to buy her share at 3000 per acre what will her tax be… read more
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Can extended legal, travel, and court fees over a two year
Can extended legal, travel, and court fees over a two year period prior to sale of a property be written off against the capitol gain amount if the sale was pending the outcome of a "right-of-way" iss… read more
Arthur Rubin
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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
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