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My husband had a short sale with a home he has with his
My husband had a short sale with a home he has with his ex-wife this year. They have been divorced for 5 years. He received a 1099-S for $355,000. This was the total amount of the sale and in his name… read more
emc011075
emc011075
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Bachelor's Degree
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2 parties have purchased a property in SF in 2013 over a
2 parties have purchased a property in SF in 2013 over a period of 5 years. 1 homeowner has lived in the property for 4+ years and another had less than a 1 year of residency in the property. We decid… read more
emc011075
emc011075
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I am selling a house in California, and will received more
I am selling a house in California, and will received more than $250,000, and buying one in Georgia. The home in CA was my primary home for more than 5 years am I responsible for only the amount of ta… read more
Lev
Lev
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I have a question regarding a rental property that we own.
Hi. I have a question regarding a rental property that we own. We bought the house in 2010. Lived in it for the first few years, and rented it out two years ago (October 2014). If we were to sell the … read more
emc011075
emc011075
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This is regarding Real Estate Sale withholding tax in CA. Is
This is regarding Real Estate Sale withholding tax in CA. Is there a reason one would elect the optional gain on sale withholding vs the .0333 rate total sales price? 2nd question - Is it possible to … read more
Lane
Lane
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Not a Duplicate - We have a house that we could not
Not a Duplicate - We have a house that we could not sell when you purchased our new house over a year ago. No one would buy it, because they could not get fha funding due to an old roof. We are wantin… read more
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My father just started receiving social security benefits
My father just started receiving social security benefits and is thinking about selling his house he will walk away with 100k once it's sold. Would his social cecurity benefits stop?… read more
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Issue is regarding once in a life time sale of home. ,
Customer: ***** *****, Issue is regarding once in a life time sale of home. … read more
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Lev
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is my gain from the sale of my primary residence of 20 years
is my gain from the sale of my primary residence of 20 years taxable in california? Married and the profit is under 500k. I cheecked on the fed tax and i am ok on that. thanks… read more
Lane
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Doctoral Degree
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Im looking to sell a coop witch I purchased about 5 years
I'm looking to sell a coop witch I purchased about 5 years ago for 105K. The sale price would be around 140K. This is a second house and is not a primary residence. There's still around 30K outstandin… read more
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I was sent a 1099-A (Acquisition or Abandonment of Secure Property)
I was sent a 1099-A (Acquisition or Abandonment of Secure Property) after the Mortgage Co. foreclosed and then purchased my home. The amount in box#2 is: $ 110,202.04 ( balance of principal outstandin… read more
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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
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I own the house my daughter lives in. I owe 324K on ...
I own the house my daughter lives in. I owe 324K on it; current market may only show value as 385K. I also owe the government money. If I sell it to my daughter for market price and the leftovers go t… read more
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I AM SELLING MY HOUSE ON LONG ISLAND I AM GOING ...
I AM SELLING MY HOUSE ON LONG ISLAND I AM GOING TO BE 60, HOUSE IS PRIMARY RESIDENCE, I THOUGHT YOU DID NOT HAVE TO PAY CAPITAL GAINS TAX IF YOU REINVEST THE MONEY ON ANOTHER HOME OR YOU ARE 591/2 YRS… read more
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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
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I BOUGHT PROPERTY IN 2003 FOR $158K.YOU GOT A NEW LOAN IN ...
I BOUGHT PROPERTY IN 2003 FOR $158K.YOU GOT A NEW LOAN IN 2004 FOR $232K. MY TAX GUY SAYS I MADE $70 PROFIT OF THE SALE OF THE HOUSE. i SOLD HOUSE LAST YEAR FOR $232K. DO I STILL HAVE A CAPITAL GAIN O… read more
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If I make a 40, 000 dollar profit from the sale of my ...
If I make a 40, 000 dollar profit from the sale of my primary residence that I've lived in for 4 years, can I use the money to pay off my bills, and not pay any penalties or taxes on the profit money?… read more
Zhicheng Lai
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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
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