Capital Gains and Losses

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I have a rental property I would like to sell, then use the
I have a rental property I would like to sell, then use the profits to purchase a retirement home/ Vacation home. Hopefully without taking a hit of capital gains … read more
YawxO
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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
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Bachelor's Degree Equivalent
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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
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I own commercial property that I am selling. I purchased the
I own commercial property that I am selling. I purchased the property over 20 years ago for $100K. The selling price is $260,000. What options do I have to lessen my capital gains impact? … read more
Carter McBride
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I bought a vacation rental 20 years ago for $100,000. I just
I bought a vacation rental 20 years ago for $100,000. I just sold it for $225,000. I've got all of my bases information down pat except for one question. I was divorced 10 years into the ownership of … read more
PDtax
PDtax
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Master's Degree
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My husband and I bought a piece of property and put a used
My husband and I bought a piece of property and put a used mobile home on it 39 years ago. It became uninhabitable about 5 years ago. I am now selling the property with the defunct mobile home on it. … read more
emc011075
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Just want to check this to make sure. Sold my vacation home
Just want to check this to make sure. Sold my vacation home in Arizona in May 2016. Would stay there about 3 months a year. Sales price $162k, recognized a $37k gain on my 2016 tax return. Bought anot… read more
Barbara
Barbara
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Three years ago I bought a house as rental property in
Hi. Three years ago I bought a house as rental property in Nevada for $110000 and I owe $84000 now. If I sell it now for $100000 cash do I have a tax liability? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
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4,197 satisfied customers
My mom Quitclaimed a home she bought in her family trust 11
My mom Quitclaimed a home she bought in her family trust 11 years ago for $605,000. The quitclaim was just in May of 2016 for $10. If I sell the house for $485,000 this year then what will happen? … read more
Robin D.
Robin D.
Vocational, Technical or Trade School
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I owned a house from which I moved 6 years ago. I rented the
I owned a house from which I moved 6 years ago. I rented the property and sold it last December 2016. My accountant entered this as a business and indicated that I was responsible for taxes on the cap… read more
Robin D.
Robin D.
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24,059 satisfied customers
We have a Nevada condo bought for 100,000 (2012) now worth
We have a Nevada condo bought for 100,000 (2012) now worth about 180,000. It is in a trust and rented. We want to sell it and buy another condo for about 140,000. What capitol gains can we expect to p… read more
PhillipB EA
PhillipB EA
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We have a property to sell we will acquire capital gains of
we have a property to sell we will acquire capital gains of approx 100,000. The house is currently a rental property we want to sell. Do we have to pay capital gains right away, in 2 years? Can we put… read more
emc011075
emc011075
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I am selling a lot we have had years, we have improvement
I am selling a lot we have had for many years, we have improvement costs from back in the late 80s and early 90s the records are not the best, ***** ***** have some invoices etc. but not enough to cov… read more
PhillipB EA
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I have a second property I have owned since 2000. I used to
Hi, I have a second property I have owned since 2000. I used to be able to deduct the loss on the rental property from my gross income on my taxes but I am now married and am filing jointly. Between u… read more
Stephen G.
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Our principle home is in New Hampshire. We have a vacation
Our principle home is in New Hampshire. We have a vacation condo in Florida we are thinking of selling and getting a different property. We paid approximately $100,000 for the condo and will be sellin… read more
Richard
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I have a rental home that has been a money pit for several
I have a rental home that has been a money pit for several years now, but have not been able to afford to sell it due to the decrease in value. It is getting close to the of point where I think I migh… read more
USTaxAdvising
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My father just sold his vacation home for $139,000. He has
My father just sold his vacation home for $139,000. He has owned it for 31 years. He originally purchased the land for $25,000, added a home with improvements for $40,500 with a total of $65,500 for c… read more
FredStevens
FredStevens
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Bachelor's Degree
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Is there any way to avoid capital gains tax on a vacation condominium
Is there any way to avoid capital gains tax on a vacation condominium in Delaware, other than living there for 2 years? We live in Buffalo New York. We purchased this condo in 1997 for $103,000. We ar… read more
jgordosea
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