I sold my house for $270,000 in 2017. I lived in it for 32
Hi, I sold my house for $270,000 in 2017. I lived in it for 32 years. I purchased that house for $72,000 in 1985. I bought another house, where I now live, for $189,000. I received a 1099-S from the t… read more
27 satisfied customers
I am retired now. About 40 years ago I inherited an acre of
I am retired now. About 40 years ago I inherited an acre of land which was zoned commercial. I was half owner and my brother was half owner. About 20 years ago I bought my brother out of his share for… read more
Certified Public Accountant
2,328 satisfied customers
Sold a second home, never used as a rental(our son & family
Sold a second home, never used as a rental(our son & family lived there, rent-free, and then bought). Home was inherited in 2003, appraised at $143,000. We put about $40,000 in improvements and upgrad… read more
Sr Financial & Tax Consultant
1 satisfied customers
My fiance in Canada lost her Dad - the last will shows that
My fiance in Canada lost her Dad - the last will shows that everything whats left is a 50/50 split with her brother - she is the executor of the last will - when she sells the house - is there anythin… read more
CFP Licensee and Practitioner
180 satisfied customers
My uncle left me and my brother his house when he passed away.
My uncle left me and my brother his house when he passed away. The house was in my brothers name but the will spelled it all out. My brother is now stating that after the taxes are settled that his ac… read more
550 satisfied customers
My husband owns our home in full and we know the capital gain
My husband owns our home in full and we know the capital gain with be over the $500,000 exemption. I will inherit the home when he dies (which is in his name only). I want to sell and downsize now, ye… read more
2,436 satisfied customers
Thirteen years ago my wife and I bought a house for $300,000.
Thirteen years ago my wife and I bought a house for $300,000. The house today is valued today at $650,000 leaving a capital gain of $350k should it be sold today. I know that $500k is exempt from capi… read more
567 satisfied customers
Hello. My mother is 84 and lives in her home in Los Altos,
Hello. My mother is 84 and lives in her home in Los Altos, California, that she owns outright. She and my father bought it back in 1968 for 32K and the homes in her neighborhood are now selling (easil… read more
558 satisfied customers
My wife, who is 55, has a home that she lived in for two of
My wife, who is 55, has a home that she lived in for two of the last five years as of this month. The home is in her name. Last year we filed a joint return. Previous returns were filed as married but… read more
558 satisfied customers
My wife is inherating a home that was owned by her mother and
My wife is inherating a home that was owned by her mother and is now in trust. The property was a vacation home her mother bought in 1970. The property is being distributed to three daughters from the… read more
558 satisfied customers
We are due to sell our principal residence at a $40,000 loss
We are due to sell our principal residence at a $40,000 loss from the original purchase price. We sold another principal residence less than two years ago and took then the $500,000 (married filing jo… read more
2,278 satisfied customers
how do you figure out the amount of capitol gain you would p
pay ona home that was bought for 20,000 in 1955 and now being sold for 450,000 this for a senior citzen who needs all the help can get to save money for to leave some where else.… read more
Accountant and Tax Preparer
170 satisfied customers
I bought a home in NY 9yrs ago. I lived in it until 2002, i ...
I bought a home in NY 9yrs ago. I lived in it until 2002, i moved to Nj and got married. in 2004 I bought a move in Nj and had started renting the home in NY 2003. I sold bought homes and moved to GA … read more
Master Tax Advisor Enrolled Agent
60 satisfied customers
we are selling a 3 family home and buying a one family ...
we are selling a 3 family home and buying a one family home..We are selling our home for $500.00. The property is a rental property although I do reside in it. What will be if any. the capital gains I… read more
1,634 satisfied customers
I bought a house 10 years ago for 27,500.00 and I sold it ...
I bought a house 10 years ago for 27,500.00 and I sold it this year for 67,500.00 but paid off the existing motgage of 13,000.00. I had a profit of 47,000.00. I bought another house for 52,000.00. Wha… read more
Accountant and Business Consultant
718 satisfied customers
My father-in-law passed away and had a second house in ...
My father-in-law passed away and had a second house in New York that he had in his name, my wife's name, and another daughter's name. His two sons names were not on the title. The house sold for $150,… read more
2,926 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.