Tax

Have a tax question? Ask a tax Expert

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

Related Tax Questions
This is a tax question regarding real estate: My mother is
Hi, This is a tax question regarding real estate: My mother is elderly and I am her sole heir. She bought her house outright in California 11 years ago for $300,000. The house is currently valued arou… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
41,780 satisfied customers
Our house is in a trust. It was purchased in 1989 for $400K
Our house is in a trust. It was purchased in 1989 for $400K and has been our primary residence in Yorba Linda California. It has never been rented. We want to sell it and downsize. The realtor tells u… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
17,238 satisfied customers
We bought the house 23 or so years ago for around 180,000.
we bought the house 23 or so years ago for around 180,000. sold last year for 675,000. I'm living on social security (gross about 20,000) which puts me in a low tax bracket. I'm subject to long term c… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,498 satisfied customers
A single member LLC was formed to purchase, fix up, and flip
A single member LLC was formed to purchase, fix up, and flip real estate. Is this a business or an investment? Is the cost of the property plus all expenses accumulated until sold, and then subtracted… read more
Barbara
Barbara
Enrolled Agent, Paralegal
11,169 satisfied customers
I am a real estate broker in California. I have a client who
I am a real estate broker in California. I have a client who purchased her primary residence in 1989 for $600k. She divorced her first husband in 1988 (he died in 2000). She married her second husband… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
17,888 satisfied customers
I purchased a home a little more than two years ago. I converted
I purchased a home a little more than two years ago. I converted it to a rental in September of last year. I have decided to get rid of it. There are significant issues with livability of the home (on… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
41,780 satisfied customers
I have owned my home (primary residence) for 10 years. I plan
I have owned my home (primary residence) for 10 years. I plan to sell my home and downsize very soon. My home is worth apx. $700,000. I plan to purchase a home for apx. $500,000. My question is do I h… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I heard that you are allowed to sell your first home without
I heard that you are allowed to sell your first home without having to pay taxes on it what if you sell your first home yourself and someone makes monthly payments to you for several years. I am askin… read more
Lou
Lou
High School or GED
272 satisfied customers
I am selling my house for $899,000 bought it 12 years ago for
I am selling my house for $899,000 bought it 12 years ago for $275,000 I got divorced 4 years ago and paid my ex-wife $250,000. I made improvements to the house of around $50,000 during the time i hav… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I purchased vacant land in 2006 with plans on building ...
I purchased vacant land in 2006 with plans on building a new home on it. In 2007, I sold the land. I also sold my primary residence and built a new home on a different parcel that I had bought. There … read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
1,663 satisfied customers
With just socal security and pension income, I also ...
With just socal security and pension income, I also had capital gains income which caused the taxes on social security to increase considerably. Is there any exclusions I can take to reduce the total … read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
A buyer offered to by my home at $1,500,000. They offered ...
A buyer offered to by my home at $1,500,000. They offered their home as down payment $500,000. Then will pay me $1,000,000 upon closing. This is my residence.. This home cost me almost $800,000 to bui… read more
Guru_Guy
Guru_Guy
Doctoral Degree
1,634 satisfied customers
do I have to pay capital gaines taxes for a property that I ...
do I have to pay capital gaines taxes for a property that I have had for two years and am looking to seel the property. The property has been vacant because I have not been able to get a transfer for … read more
Guru_Guy
Guru_Guy
Doctoral Degree
1,634 satisfied customers
We are selling our home for roughly $900,000 - and want to ...
We are selling our home for roughly $900,000 - and want to purchase another for $750,00, (husband and wife) - does this mean we would have to pay capital gains on $150,000 because our new home won't b… read more
Guru_Guy
Guru_Guy
Doctoral Degree
1,634 satisfied customers
My grandparents owe $150,000 on their home (WA State).
My grandparents owe $150,000 on their home (WA State). The home will likely appraise for ~$900,000. They would like to continue living in the home, but would like to sell their home to me for what the… read more
Zhicheng Lai
Zhicheng Lai
Master Degree
426 satisfied customers
Exactly how much is the capital gains tax for real estate in New York
I bought a house in 2003 for $359,000. I'm selling it now for $499,000. I did refinance in the meantime for $440,000. What can they tax me on?… read more
Zhicheng Lai
Zhicheng Lai
Master Degree
426 satisfied customers
I AM SELLING A HOUSE IN CALIFORNIA THAT I LIVED IN JUST ...
I AM SELLING A HOUSE IN CALIFORNIA THAT I LIVED IN JUST OVER TWO YEARS. I WAS WONDERING WHAT TAXES I MIGHT BE RESPONSIBLE FOR PAYING? I WILL BE MAKING A PROFIT ON THE SALE.… read more
Zhicheng Lai
Zhicheng Lai
Master Degree
426 satisfied customers
real estate taxes on properties held less than a year
My question concerns real estate taxes. I purchased a home as my primary residence in October 2004 for $650,000 and sold it in April 2005 for $890,000. Commission and remodeling costs brought my net p… read more
Jon Andrews
Jon Andrews
CPA
3,038 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