Tax

Have a tax question? Ask a tax Expert

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

Related Tax Questions
New construction home- Tax basis is $1.2 mil. Purchased the
New construction home- Tax basis is $1.2 mil. Purchased the lot in June 2015 Home was completed in July 2017 Looking to sell and trying to determine capital gains tax. If there's a gain of $600,000, w… read more
Carter McBride
Carter McBride
LLM
2,952 satisfied customers
I will be helping a family member finance a townhouse build
I will be helping a family member finance a townhouse build project. The property and construction loan is getting turned over into my name. The intention would be to sell the 4 units once they are co… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,135 satisfied customers
My questions is about capital gains on selling our old home.
My questions is about capital gains on selling our old home. We put our house of 30 yrs up for sale in July, 2007. We bought and moved into a new home in late november, 2007. We left our old home on t… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
Tax consequences of selling one half interest in home, turning
Tax consequences of selling one half interest in home, turning it into a rental for 26 plus years, then selling it in 2007. With proceeds bought a larger home to live in 26+ years ago… read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
1,663 satisfied customers
Hello,I bought a house in 2003 for $265k.I demolish it
Hello, I bought a house in 2003 for $265k. I demolish it last year and built two three-family homes this year at a cost $950k This year, I am going to sell both houses at 650k each and buy another pri… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
39,795 satisfied customers
My mother transferred her home to me in 1996, while remaining
My mother transferred her home to me in 1996, while remaining as a life tenant. The family decided to sell the house in November ($60,000). We spent$16,000 in repairs to the house before the sale. My … read more
Chad Oberg
Chad Oberg
Director
Bachelor's Degree
174 satisfied customers
My wife and I owned a rental house on 2 building lots. We
My wife and I owned a rental house on 2 building lots. We then tore the house down, formed an LLC, and then built a spec. house on one of the lots, and split off the other lot to keep. We had an inter… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
39,795 satisfied customers
What is the best approach to take tax wise with my WaMu stock portfolio
WM/JPM employee 708.678 common shares of WM 514.716 shares in 401k 1822 shares of stock options 2388 restricted shares… read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
1,663 satisfied customers
Hi. I have a question about capital gains tax. We purchased ...
Hi. I have a question about capital gains tax. We purchased an investment property in April 2007 for $51,000.00. Financed amount was $45,900.00. Cash down was $7,634.00. Improvements to the property w… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
39,795 satisfied customers
I own 200 shares of a stock that I purchased in 2002. If I ...
I own 200 shares of a stock that I purchased in 2002. If I sell short a 100 shares of that stock position in December 2006, and cover that short position in March of 2007 - the next tax year, and the … read more
Bill
Bill
Master's Degree
3,154 satisfied customers
Does Phase 3 qualify for short term Capital Gain In ...
Does Phase 3 qualify for LONG term Capital Gain? In early 1994 I bought 17 acres of land and had an engineering firm survey, engineer and Plot the land into 46 residential Lots. The engineer developed… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
We have owened a peice of property in Hawaii for over 2 ...
We have owened a peice of property in Hawaii for over 2 yrs. we are in the process of building a custom home on this property and will be selling it soon-we are in the very lowest tax bracket as my hu… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
39,795 satisfied customers
We are selling the home we have lived in for two years, but ...
We are selling the home we have lived in for two years, but only owned for one year. The selling price is less than $250,000. Our annual income is about $80,000 with up to $20,000 in deductions and ex… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
39,795 satisfied customers
We would like to sell our primary residence after owning it ...
We would like to sell our primary residence after owning it for one year. We are currently in a 25% income tax bracket ($93,000/yr. income). If we lowered our 2007 income to $60,000, what percentage o… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
39,795 satisfied customers
do you have to live in your house for at least two years ...
do you have to live in your house for at least two years before selling it and getting taxed on the capital gains? what is the current law as of July 26, 2006?… read more
GARY ELLIS
GARY ELLIS
Tax professional
Bachelor Degree
74 satisfied customers
If I form an LLC for the purpose of building and selling
If I form an LLC for the purpose of building and selling spec homes and through that LLC I purchase a vacant lot on June 15, 2006, build a home and then sell the home June 17, 2007, would I have a lon… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
39,795 satisfied customers
I bulit my home last year, and closed last November and the ...
I bulit my home last year, and closed last November and the purchase price was $237,500. I finished the basement (about 1500 sq.ft.) and listed it for $335,000 and received a full price offer within 5… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I boiught a 1/4 acre lot and decided to build on it. I ...
I bought a 1/4 acre lot and decided to build on it. I placed both the LOT and the construction under a construction loan on March of 2004 (paying interest on the loan every month). When the home was c… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 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:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,937 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

261 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

17,888 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,659 satisfied customers

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

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< 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