Capital Gains and Losses

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I have read that I must profit more than 250k on the sale of
I have read that I must profit more than 250k on the sale of my home in California to have to pay capital gains taxes on the sale but the original purchase was done by my father before he passed and I… read more
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We have a tax question. I am purchasing my sister's home in
We have a tax question. I am purchasing my sister's home in California which she purchased in 2013 for $270,000 (and refinanced in Nov. 2020 for $315,000). The home was appraised at $535,000. We are g… read more
levr-tax-gain
levr-tax-gain
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I'm wondering how much I'd pay in capital gains for selling
I'm wondering how much I'd pay in capital gains for selling my home … read more
levr-tax-gain
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I AM 84 A RETIRED TEACHER AND MY HOUSE IN CALIFORNIA AND
I AM 84 A RETIRED TEACHER AND I AM SELLING MY HOUSE IN CALIFORNIA AND MOVING INTO INDEPENDENT LIVING ? WHAT WILL MY CAPITAL GAINS taxes be? … read more
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My friend is currently purchasing an owner-occupied home (
Hi,My friend is currently purchasing an owner-occupied home ( house A) , she purchased the other house as her primary home ( house B) in May 2020. According to the lender's guideline, she could not ow… read more
levr-tax-gain
levr-tax-gain
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We are curious if we need to pay Capital gains on the house
We are curious if we need to pay Capital gains on the house we just sold we started renting it in sept of 2019 and then purchased it in Jan of 2020 for 400k. We just sold it for 500k … read more
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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
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I live in California. My house is my only resident, but it
I live in California. My house is my only resident, but it is a large place for me. I want to rent out my house, and find a small apartment to move in. I want to calculate the gain or lost by renting … read more
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Give me a sec. I am trying to sell my rental property in
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
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My mom is 82 years old and lives in Daly City California.
My mom is 82 years old and lives in Daly City California. She has lived in the same house for 56 years. She owns the house outright. Her husband died 2 years ago and also lived in the house. She is lo… read more
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In March of this year we sold our home in Colorado. In May
In March of this year we sold our home in Colorado. In May of this year we purchased a home in Arizona. Due to health concerns we are selling the home we purchase 4 months ago in Southern Arizona to m… read more
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We built a home mortgage free in which we invested $250,000.
We built a home mortgage free in which we invested $250,000. If we sell the home for $150,000 through a contract for deed with a monthly installment of $700 for two years, at which time the final paym… read more
emc011075
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In California, there used to be a one-time "dump" of capitol
In California, there used to be a one-time "dump" of capitol gains on the sale of your primary residence if you were 55 or over, and met certain conditions. Is this still in place? If so, what are the… read more
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In calculating capital gains on sale of home in California
In calculating capital gains on sale of home in California is the outstanding balance of the mortgage on the primary residence subtracted from the gross sales price to arrive at net sale price? ie. Sa… read more
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have a house that is paid for and rented out currently. it is a 3 bedroom bath and a half with a two car garage and is 1050 sq ft. rents for 1050 a month. Bought in 1984 and have wrote off the house a… read more
Robin D.
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My father passed away in January and his house was in his name
My father passed away in January and his house was in his name as well as my sisters name. Paid off . The house is being sold and we were wondering about the capital gains tax if it's figured from the… read more
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I am a Canadian citizen ,a snowbird who has been winters
I am a Canadian citizen ,a snowbird who has been winters here since 2011.I purchase a house in 2011 which I am in the process of selling. I purchased the house for $81,000 in 2011 and just sold it for… read more
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What percentage of taxes do I have to pay on the sale of my
what percentage of taxes do I have to pay on the sale of my second house which I rent. The house owes $143,000 and I'm selling it for $170,000.… read more
levr-tax-gain
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