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When selling a rental property, is all depreciation
when selling a rental property, is all depreciation recapture taxable? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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I had a foreclosure and received a 1099 C. I think im
hello, i had a foreclosure and received a 1099 C. I think im supposed to use form 982 because it was a rental property . Please let me know any info … read more
Lev
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Tax question. Taxpayer sells a vacation home in 2016 (second
Tax question. Taxpayer sells a vacation home in 2016 (second home) for a GAIN. Owned the home for 10 years and rented it for 14 days in 2011, 37 days in 2012 and 43 days in 2013. Is this reported as a… read more
Lev
Lev
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I purchased a rental property in joint tenancy with my
I purchased a rental property in joint tenancy with my parents for $25k in 1974. My dad died in 2000 and the property was valued at $100k. My mother died in 2015 and the property at that time was valu… read more
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I got a 1099-c for $292,819 dollars It was a rental
I got a 1099-c for $292,819 dollars It was a rental property … read more
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I also have an s corp dissolution with 179 disposition of
I also have an s corp dissolution with 179 disposition of property. I read the questions below submitted 8 yrs ago. Have a question regarding your answer to #4 followed by a question of my own regardi… read more
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My question centers around the taxability of the sale of a
My question centers around the taxability of the sale of a partnership interest. I am aware it is a capital gain and I am aware of the sales price as the amount received. There is no debt on the partn… read more
PDtax
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, hoping someone can help with a question concerning the
Hi, hoping someone can help with a question concerning the sale of a residential condo unit that had become a rental property during the last 2 out of 5 years of ownership. During the preceding 3 out … read more
R. Klein, EA
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MY CLIENT WAS A PART OF A COMMERECIAL CONDOMMINIUM BULIDING
HI MY CLIENT WAS A PART OF A COMMERECIAL CONDOMMINIUM BULIDING LLC WHICH WENT INTO FORECLOSURE IN 2011. NO PAPERWORK SUCH AS A 1099-C OR 1099-A WERE ISSUED. MY CLIENT OWNED 2.8318%. THE PROPERTY WAS W… read more
R. Klein, EA
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short sales on rental property , i got 1099 c of 205k FMV $100K
short sales on rental property , i got 1099 c of 205k FMV $100K Outstanding Bal $300k, sold it for $95 k Adjusted basis is $280k (300 minus acc. dep of 20k) Will all the 205,000 1099 c be taxable or w… read more
Lev
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We own a rental property in St Louis that we would really like
We own a rental property in St Louis that we would really like to sell! It used to be our home, we tried to sell it, couldn't, so rented it out. It has been a rental now for 4 years. If / when we sell… read more
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If $100K is used to buy a $400K property via 1031 exchange,
If $100K is used to buy a $400K property via 1031 exchange, and the value of the property has remained at $400K, with about $300K left on the mortgage, then what would the taxes be (generally speaking… read more
Lev
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I sold an investment rental property I owned since 2002. I
I sold an investment rental property I owned since 2002. I had a 42000 capital gain on the property when I sold it. I am using turbo tax for my return and I need to know how to calculate prior depreci… read more
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Assume the following model US Citizen in London purchases
Assume the following model: US Citizen in London purchases fixer up property in 2005 for £200K with a mortgage of £100K In 2006 makes £50K worth of improvements In 2008 makes £50K worth of improvement… read more
MequonCPA
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Taxpayer trades his property with AB of 750K, 200K purchase ...
Taxpayer trades his property with AB of 750K, 200K purchase money mortgage and another 200K mortgage taken out just before sale that will be assumed by buyer. in the exchange, taxpayer will receve a 4… read more
MequonCPA
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how do you figure capital gains tax on sale of rental ...
how do you figure capital gains tax on sale of rental property. i sold a condo in 2004 for 114,000. it was purchased in 2000 for 68,800. my settlement was was for 90,000 after sales commission, 7%, im… read more
Lev
Lev
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Allowable to deduct passive activity loss from capit gains
My question concerns the calcualtion of Capital Gains Tax for the sale of a rental property. May I deduct any (and all) prior year losses that I was not able to take from Schdule E, Form 1040 because … read more
RD
RD
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My husband and I lived in his parents rental property for ...
My husband and I lived in his parents rental property for 26 years. They also owned the home next door which has been their primary residence for 53 years. Due to their age and declining health, they … read more
Zhicheng Lai
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