Capital Gains and Losses

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I co-owned a home we just sold. The split of the profits
Hi, I co-owned a home we just sold. The split of the profits left me with 147k. I have no income. How much should I set aside for taxes next year? … read more
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Here is the scenario: I sell my primary residence within 2
Here is the scenario: I sell my primary residence within 2 years of purchase as I move to a different state for job reasons. If I buy a new house in the new state within 30 days of selling my original… read more
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I live in Naples, Florida. We've just sold our house of 12
Hi, I live in Naples, Florida. We've just sold our house of 12 years and will have 450,000 profit. We are married filing jointly. I'm wondering what the rules are on 1031 exchange and how long we have… read more
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I sold my house in February this year with $380k capital
I sold my house in February this year with $380k capital gain. As a single person i have a $250k allowance, which I have calculated to be only $150k due to the fact i used $100k to write of capital ga… read more
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My husband bought a house in 2003. He and his mother lived
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If I lived in a home for 8 years, rented it for 2 then moved
If I lived in a home for 8 years, rented it for 2 then moved back in for 2 then rented it again for 9 years, would I owe any taxes if I moved back in for 2 or more years? I have taken 300K in deprecia… read more
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Can I move into my rented home that is fully depreciated and
Second opinion] can I move into my long rented home that is fully depreciated and has a tax basis of $100,000 and live in it as my personal residence for 3 years then sell it for $500,000 with not inc… read more
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We're about to final a home sale in Calif. We bought the
We're about to final a home sale in Calif. We bought the land in 1983 for $360,000 (51 acres). We built a small home and lived in it for 6 years while we built a larger home, finaled in 1990. It is 45… read more
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My wife and I are selling our home in SC and will purchase a
My wife and I are selling our home in SC and will purchase a new home in Washington State. The current home has been our primary residence for over 3 years. I anticipate the 'proceeds' from the sale o… read more
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Sell our Condo in Los Angeles and move to Dallas. Purchased
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We are about to sell two properties. The first is a rental
We are about to sell two properties. The first is a rental property townhome that used to be my wife's home before we were married three years ago. Gains on that property will probably be around $150-… read more
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I'm trying to plan out what would be the most tax advanteous
Hi, I'm trying to plan out what would be the most tax advanteous thing to do with my in-laws' home when they pass away. They purchased this home decades ago for about $25K and it's now worth about $50… read more
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I gifted a 25% share of a property in Sutton to my daughter.
i gifted a 25% share of a property in Sutton to my daughter. She purchsed the property for 290k and is in her name.Stamp duty and Legal fees 7k. She and her fiance lived there for 2 years. For the las… read more
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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
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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
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My husband and I purchased our home in 2000, and did some
My husband and I purchased our home in 2000, and did some major additions and renovations. Our basis is about $2 mil. There is a cottage on our property which we rent out, declare income, and deprecia… read more
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I'm Sarolta.With my husband we purchased our house 23
Hi ,I'm Sarolta. With my husband we purchased our house 23 years ago.The property contained an additional lot which can be built on ,if public sewer was available.At that time the lot was used for the… read more
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Hello,My home is in a short sale, bof said they will accept
Hello, My home is in a short sale, bof said they will accept 16,000. at the end of escrow and i guess they will take the loss for the other 135,000. (total owed 151,000) then a get a letter from bofa … read more
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