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Can you help with a capitol gains related tax question?
can you help with a capitol gains related tax question? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,711 satisfied customers
I have a property that I bought July of 2017 for 75k, I've
I have a property that I bought July of 2017 for 75k, I've invested 40k in repairs and I'm selling it for 162k. Anticipating roughly 35k in profit. Can I take advantage of the 1031 exchange to minimiz… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,711 satisfied customers
If I buy a 6 years ago and construct a house now and sell it
If I buy a 6 years ago and construct a house now and sell it under 1031 exchange? should I buy land and re build again or buying a land would be sufficient enough? For example if I bought a land for 9… read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
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If I buy a 6 years ago and construct a house now and sell it
If I buy a 6 years ago and construct a house now and sell it under 1031 exchange? should I buy land and re build again or buying a land would be sufficient enough? For example if I bought a land for 9… read more
Mark Taylor
Mark Taylor
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Masters
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My daughter is selling 2 acres of land which I gifted her 10
My daughter is selling 2 acres of land which I gifted her 10 years ago. She has improved the land. She is going to invest the capital gains into her new property they are building. What would be the t… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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I sold a house 50 % Business Use & 50% personal use, ( two
I sold a house 50 % Business Use & 50% personal use, ( two family house) I bought the house on 2001 for 300 sold for 700, during the 45 days Y bought two property one 2 family rental property 100% bus… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
We have a rental property which we own free an clear but it
We have a rental property which we own free an clear but it requires work before we can sell it. So we are going to do a HELOC ont he property and then sell the property soon there after. We have depr… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I am planning to sell a gas station business I own, but wanted
I am planning to sell a gas station business I own, but wanted to keep the property in my name and collect rent. The buyer would like to pay 50% down and have a 10 year carry back note to make install… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Question 1 I have owned a rental home (in Georgia) for a number
Question 1: I have owned a rental home (in Georgia) for a number of years which has provided me with good income. However, I want to sell the rental home as the neighborhood is "not what it use to be"… read more
Charles Greiner
Charles Greiner
Owner
Bachelor's Degree
2,436 satisfied customers
Hi.My name is Aleks. I want to sell my co-op that I got way
Hi.My name isXXXXX want to sell my co-op that I got way below market price 2 months ago and put my profit as a down payment for the house.Is that profit will be taxed? Thank you.… read more
Merlo
Merlo
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558 satisfied customers
My in-laws want to sell one of their investment properties
My in-laws want to sell one of their investment properties and do a 1031 exchange on a property they would invest in WITH us. We love the idea, but are ready to buy now and they won't be able to list … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
If I convert some of my assets into GOLD -- coins or bullion
If I convert some of my assets into GOLD -- coins or bullion -- Can I avoid paying Taxes ( income, capital gains, or vat) on any type of gold iinvestments? Thanks XXXXX… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I live in Pennsylvania and have a rental property in Texas.
I live in Pennsylvania and have a rental property in Texas. I want to sell my rental property in Texas and buy a property in Florida (a vacation home and occasional rental to family and friends) If I … read more
Merlo
Merlo
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558 satisfied customers
I have a question about Like Kind Exchange 1031. I sold a
I have a question about Like Kind Exchange 1031. I sold a convience store in May 2009. I have started on building a car wash on a property that i had bought 2 years ago. The cost of car wash would be … read more
Merlo
Merlo
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My parents own a property that they want to sell. They bought
My parents own a property that they want to sell. They bought the place in 1988 for $200k.. They can sell it for $1.1 million , property is free of any liens.. Parents are divorced age are 62 and 58 .… read more
Merlo
Merlo
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Okay, last year I went out and bought a $25,000 truck and I
Okay, last year I went out and bought a $25,000 truck and I took the $25,000 Section 179 write off (it's over 6,000 lbs). That's great, but what if I want to sell it and get a newer/different truck? H… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
what capital gains have to be paid on a vacant lot in new york
My parents own a vacant lot in New York and want to sell. If they sell this lot which was purchased in the early eighties and was residential motel @ the time. (it burned down over 15 yrs ago. They pa… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I bought a house in CA in 7/05 at $460,000, bank loan was ...
I bought a house in CA in 7/05 at $460,000, bank loan was $400,000, down paymmet and cost of buy was $50,000. I spend additional $10,000 to upgrate. I sole this house in 9/05 at $570,000. After duduct… read more
Jon Andrews
Jon Andrews
CPA
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