Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

My question is related to a property sold under Section 1031…

Customer Question
My question is related to...
My question is related to a property sold under Section 1031
Submitted: 2 years ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 7 minutes by:
1/18/2016
Tax Professional: PDtax, Certified Public Accountant (CPA) replied 2 years ago
PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 5,033
Experience: 35 years tax experience, including four years at a Big 4 firm.
Verified

Hi from just answer. I'm PDtax, and can assist.

Can you post your question?

Ask Your Own Tax Question
Was this answer helpful?
Ask Wallstreet Esq. Your Own Question
Wallstreet Esq.
Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 586
586 Satisfied Customers
Experience: 10 years experience

Wallstreet Esq. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

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

4,495 satisfied customers

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

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

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

Robin D.

Robin D.

Senior Tax Advisor 4

15,272 satisfied customers

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

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 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 >

Related Tax Questions
Husband and sister inherited property in Canada. Their
Husband and sister inherited property in Canada. Their residency is in the states. Their cabin in Canada is just a summer place so they only go up during the summertime. This summer they are fixing up… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,221 satisfied customers
I sold a rental property in june of' '17 for 498,000
i sold a rental property in june of' '17 for 498,000 (property A). it's appraised value was 471. i bought a replacement rental property (property B) within 180 after identifying it within 45 days of t… read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,119 satisfied customers
If a property was bought for $60,000 in 1986 and used for
If a property was bought for $60,000 in 1986 and used for rental property for the next 30 years and was depreciated during each year, then property sold in 2017 for $163,000, how much federal tax woul… read more
ABC Accounting Group
ABC Accounting Group
Bachelor\u0027s Degree
836 satisfied customers
PDTax need assistance. On a 1041 there is a Decedent's
PDTax need assistance. On a 1041 there is a Decedent's Estate Created at time of death. First year of death 2016. A final 1040 return was filed for year of death 2016. There was a RVOC trust created i… read more
Dr Arthur Rubin
Dr Arthur Rubin
Doctoral Degree
24 satisfied customers
If I paid property taxes $1000 for my mom's property can I
Hi.If I paid property taxes $1000 for my mom's property can I deduct that expense? I also claim my mom as a dependent.Thank you.… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I am the legal owner of a rental property, but my son
I am the legal owner of a rental property, but my son handles/manages the rental. I collect no income, all revenue goes to my son. He pays all expenses incurred and 'reimburses' me for tax and insuran… read more
PDtax
PDtax
Certified Public Accountant (CPA)
5,033 satisfied customers
My husband and I jointly purchased a rental property in
My husband and I jointly purchased a rental property in 1978. We divorced in 1999 and the property went to me alone as part of the divorce settlement. I'm selling the home in 2018. Do I pay capital ga… read more
PDtax
PDtax
Certified Public Accountant (CPA)
5,033 satisfied customers
I have a rental property....the house was not rented in 2017
I have a rental property....the house was not rented in 2017 due to major work to be done on the house...the house will be sold in 2018 (April) hopefully. Can I still claim some of the expenses like m… read more
PDtax
PDtax
Certified Public Accountant (CPA)
5,033 satisfied customers
We are in Connecticut, which is not a community property
We are in Connecticut, which is not a community property state. When married taxpayers have a joint brokerage account and one of them dies, most brokerages have been resetting the cost values of ALL s… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
We were buying some property in a different state and the
We were buying some property in a different state and the developers went bankrupt. They sent us the initial down payment back and told us that if we had paid any other expenses, to let them know so t… read more
PDtax
PDtax
Certified Public Accountant (CPA)
5,033 satisfied customers
Tax Question, Who can claim property taxes for a property
Tax Question, Who can claim property taxes for a property during the year of divorce on schedule A as an itemized deduction? This is for a community property State, but couple was divorced during the … read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,221 satisfied customers
My husband and I sold a piece of property (land) about 5
Hello,My husband and I sold a piece of property (land) about 5 years ago. We received a down payment, and were carrying the rest. When I filed taxes that year, we showed the full amount of the sale, i… read more
PDtax
PDtax
Certified Public Accountant (CPA)
5,033 satisfied customers
My rental property brings in $3400 a month. Property taxes
My rental property brings in $3400 a month. Property taxes are $12,000 a year. Mortgage payments are $2114 a month with $1117 going to interest. I have spent $15,000 on attorney fees. How much of the … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I am purchasing a new investment property and am closing on
I am purchasing a new investment property and am closing on the property next week. My other rental property suddenly became vacant. I am now considering selling the original property. Is there a way … read more
PDtax
PDtax
Certified Public Accountant (CPA)
5,033 satisfied customers
Bought townhouse in 2005 as investment property. Property
Bought townhouse in 2005 as investment property. Property remained empty and unoccupied until Feb 2013. Beginning 2013 through 2016 property was rented and reported as rental. Did not rent in 2017 and… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,272 satisfied customers
For PDtax only. I just googled new tax law changes. I am a
ForCustomeronly. I just googled new tax law changes. I am a real estate investor. Landlord for rentals and also flip some houses. One of the changes I read said "Carried Interest The final bill includ… read more
PDtax
PDtax
Certified Public Accountant (CPA)
5,033 satisfied customers
PDtax ONLY PART TWO 2. I want to become an independent
CustomerONLYPART TWO 2. I want to become an independent contractor for another company and they require that I have an EIN, so I need a separate one and CAN I get a new one or can I use the EIN I set … read more
PDtax
PDtax
Certified Public Accountant (CPA)
5,033 satisfied customers
Last information requested from PDtax and M.. This is a very
Last information requested from PDtax and M. Taylor. This is a very similar problem I had in 2015. I am overlooking an item. The revenue just keeps increasing and partnership taxpayers (2) have not wi… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,296 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.

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