Finance

Have finance questions? Ask a financial expert online.

Connect one-on-one with {0} who will answer your question

Related Finance Questions
I'm in Post Falls Idaho and have a question about capital
I'm in Post Falls Idaho and have a question about capital gains tax ramifications. In February this year I sold undeveloped land (for $680k) that I bought several years ago (for $300k plus $50k on imp… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,155 satisfied customers
I have a tax question. This is quite extensive. When I filed
I have a tax question. This is quite extensive. When I filed 2017 taxes I reported a 68k loss. However, while doing that, I didn't report a few assets like bitcoin purchased and some stocks. Now I also didn't write them off either. I was taxed on those purchases like it was left over income. Now in doing my 2018 taxes I sold all of those assets to keep the business afloat since it was running in the red. In filing 2018 taxes, since it wasn't reported as assets in 2017, I was looking at filing everything I sold in 2018 as income. This will mean that I owe money. Basically what I am wondering is, should I file a 2018 extension, them amend my 2017 taxes so I can do my 2018 taxes. If I do that I will start the 2018 with roughly a 150k loss rather than a 68k loss. Which would mean this year I wouldn't owe anything. … read more
Barbara
Barbara
Enrolled Agent, Paralegal
21,752 satisfied customers
I am selling a rental property I've owned for 7 years for
I am selling a rental property I've owned for 7 years for $650,000, have previously claimed approximately $50,000 in depreciation, have a $375,000 mortgage on it paid from the proceeds, paid $225,000 … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,155 satisfied customers
Turbo Tax 2017 is figuring tax on the depreciation recapture
Turbo Tax 2017 is figuring tax on the depreciation recapture of property where there was a 1031 exchange. I thought that the depreciation in a 1031 exchangewas carried forward, so to speak, by deducti… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,155 satisfied customers
Should I file a 1040 extension if I need more time for form
Should I file a 1040 extension if I need more time for form 8854, even though i do not need to file 1040 for that year? I would then file the 8854 alone, without 1040, by extension deadline? Extension… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
26,052 satisfied customers
I traded cryptos in the month of December 2017. I bought and
I traded cryptos in the month of December 2017. I bought and sold Crypto-USD and also Crypto-Crypto. Now i am aware of the new Tax law thats been introduced but not sure how it impacts cryptos trading… read more
Carter McBride
Carter McBride
LLM
8,263 satisfied customers
I am selling a rental. I bought it through a like-kind
Hi, I am selling a rental. I bought it through a like-kind exchange. In other words, the gain from the first property was deferred. Now I am selling the second rental property i know I need to recogni… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
26,052 satisfied customers
We are completing a 1031 exchange. The property we are
We are completing a 1031 exchange. The property we are exchanging is under contract and is supposed to close on March 31, 2017. Can we initiate sales and purchase agreements with replacement propertie… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
26,052 satisfied customers
I am doing a 1031 Exchange of residential Rental Properties.
I am doing a 1031 Exchange of residential Rental Properties. I sold a 4 plex and the proceeds received was about $223,400. Our exchanger has these proceeds. We are thinking of a similar property for l… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
26,052 satisfied customers
Would swapping stocks between family members be considered
Would swapping stocks between family members be considered gifting to each other. For example I give my son $100,000 in stock of company XXX and my son in return gives me $100,000 in stock of company … read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
26,052 satisfied customers
I'm looking Turbo Tax expert. I am a sole proprietor
I'm looking for a Turbo Tax expert. I am a sole proprietor of a small furniture business. I traded a 7 year old cargo trailer for a new one. If I understand correctly this should be reported as a like… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
1,069 satisfied customers
I have a question. If someone was to sell ownership in a
I have a question. If someone was to sell ownership in a business (stock sale) in 2016, and re-invest that in buying a new business or a rental property. If all of the money from the sale were re-inve… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
26,052 satisfied customers
I am looking at a new job with a different company and would
I am looking at a new job with a different company and would be required to pass a series 6 exam within 6 months. Passing an exam isn't my concern. What concerns me is that I have a bankruptcy in prog… read more
Tax.appeal.168
Tax.appeal.168
Principal
8,189 satisfied customers
what IRS Code section applies to the trades of real property?
what IRS Code section applies to the trades of real property? What should I look out for specifically in trading a 100% rental house for a self-service coin coin operated car wash? Thanks, XXXXX XXXXX… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
26,052 satisfied customers
I am selling a rental property in NYC for 200,000. I bought
I am selling a rental property in NYC for 200,000. I bought from my parent for 30k several years ago, whom originally inherited at a basis of 70k. My parent did not claim the 40k loss since it was a f… read more
taxmanrog
taxmanrog
Master's Degree
2,203 satisfied customers
We have a plane that we sold for 270,000.00. We have depreciated
We have a plane that we sold for 270,000.00. We have depreciated the plane to 60,000.00. This plane is in a S Corporation. Can you tell me what kind of taxes we are going to have to pay on this plane.… read more
Rakhi Vasavada
Rakhi Vasavada
Financial and Legal Consultant
Bachelor's Degree
2,614 satisfied customers
Company A Mining Company swapped its Extec screen to Company
Company A Mining Company swapped it's Extec screen to Company B Mining Company for Company B's Dewatering screw. The representatives of both companys, agreeing that their respective used equipment was… read more
BK-CPA
BK-CPA
Bachelor's Degree
919 satisfied customers
need someone who has a background in trust and fiduciary
I actually need someone who has a background in trust and fiduciary accounting, I'm looking at a trust accounting (Schedule F & it involves real property held first as tenancy in common then limited p… read more
BK-CPA
BK-CPA
Bachelor's Degree
919 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:

Rakhi Vasavada

Rakhi Vasavada

Financial and Legal Consultant

2,614 satisfied customers

Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years

Manal Elkhoshkhany

Manal Elkhoshkhany

Tutor

2,305 satisfied customers

More than 5000 online tutoring sessions.

Megan C

Megan C

Certified Public Accountant (CPA)

2,225 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

JKCPA

JKCPA

CPA

844 satisfied customers

Bachelors degree and CPA with Accounting experience.

Dave CPA

Dave CPA

Accountant

231 satisfied customers

I'm a CPA with over 10 years of experience

ConceptsCoach

ConceptsCoach

Certified Public Accountant (CPA)

171 satisfied customers

Chartered Accountant and MBA

sgriffin26

sgriffin26

Loan Officer

93 satisfied customers

Licensed RE Agent, Loan Officer, and NMLO. I have been in residential lending for over 10 years.

< 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