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I am not a US citizen, and live in the USA. i have a 5 year
I am not a US citizen, I am British and live in the USA. i have a 5 year business visa. I own 2 properties and have lived in each 2 years out of 5 and am now selling the properties in California and m… read more
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I'm from south Africa working in the USA and thinking of
Hi I'm from south Africa working in the USA and thinking of getting into the stock market I just want to know how my tax is going to work on the stock I'm buying and if I just pay tax on the money I w… read more
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I sold a rental property this year capital gain of $35k
I sold a rental property this year for a capital gain of $35k and fully expected to have to pay tax on that money, however, Turbo Tax isn't calculating any tax due. The only income we have is our busi… read more
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When figuring out what tax bracket one is in, do you only consider
When figuring out what tax bracket one is in, do you only consider ordinary income. My concern is a long term capital gain this year and I would like to keep it at 15%. Thank you… read more
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can someone please explain how the 0% on capitals gains works
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if i am getting a divorce in florida and i havent worked but
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I am selling commercial property (just new construction, last
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What is the tax rate for capital gains from the sale of a small
What is the tax rate for capital gains from the sale of a small office building? Is the tax rate for capital gains tied to the personal income in the year of the sale and if so does the proceed from t… read more
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Capital gains tax of zero percent for the lower tax brackets
Capital gains tax of zero percent for the lower tax brackets is figured on the ordinary taxable income, I think. Does the ordinary taxable income include the capital gain amount?… read more
Tax.appeal.168
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In 2012 I sold undevloped raw land, for $100,000. Net to me
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tim receives $500 of qualified dividends from Exxon in 2010.
tim receives $500 of qualified dividends from Exxon in 2010. He is in the 10 percent ordinary tax bracket. What will tim's tax on the dividends be… read more
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A couple purchases a time share & can no longer continue the
A couple purchases a time share & can no longer continue the payments. A deed in lieu is to be executed between the couple & the lender. The amount of debt to be cancelled is 46,000 & the fmv of the p… read more
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I am selling a portion of my stock for a total of $84,000.00 My
I am selling a portion of my stock for a total of $84,000.00 My purchase price for those shares was only $240.00 My earned income this year from all other sources will be less than 5K. How much tax wi… read more
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Does the special exemption of 2008-2010, for married couples
Does the special exemption of 2008-2010, for married couples with less than $65,100 taxable income, that eliminates long term capital gains on securities also apply to the long term gain from the sale… read more
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i have a client who is deceased. his total agi is 31,243.
i have a client who is deceased. his total agi is 31,243. he has only ss and interest income. but cashed in stocks for 30000 after cost taken out. when it goes to the capital gain worksheet, there is … read more
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Regarding the 2008 tax free capital gains law for taxpayers
Regarding the 2008 tax free capital gains law for taxpayers in the 10% and !5% bracket. Does this apply to real estate… read more
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does the proceeds from US savings bonds, less cost qualify as capitol gains
IRS will give capitol gains under 65,110 dollars exemption from tax up to 10550 if qualifications are met. Is this correct? thanks… read more
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I am retired, single, head of house, 1 dependent son. I ...
I am retired, single, head of house, 1 dependent son. I want to sell a business that I paid $60,000. for and now sells for $475,000.00 There will be no capital gains Federal tax if my adjusted gross i… read more
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