Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
I am wanting to sell my poultry farm for 995,00 it includes
I am wanting to sell my poultry farm for 995,00 it includes property, house, and poultry houses in Alabama. I want to reinvest in some timberland worth about 130k to 150k. … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
My main concern is that the place was sold for imil....so I
my main concern is that the place was sold for imil....so I am using the 500k for the personal property half.....and if I only record that part how do I report the other half that went to the exchange… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
30,022 satisfied customers
I sold multi family that i lived in years, I received a
I sold multi family that i lived in for 14 years, I received a 1099-S for the sale amount of $400,000 How do i report the capital gains?… read more
Mark D
Mark D
Enrolled Agent
Master's Degree
1,338 satisfied customers
If I have a 3 family home and live in 1/3 of it and rent
If I have a 3 family home and live in 1/3 of it and rent the other 2/3 (I've lived there the last 10 years), when I sell it, do I get the full $500,000 as a married couple or does it get prorated beca… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
In trying to avoid disqualification of the IRC section 1031
In trying to avoid disqualification of the IRC section 1031 like-kind exchange, how much time is required to lapse after the 1031 real estate exchange transaction before converting the exchanged real … read more
Barbara
Barbara
Enrolled Agent
7,419 satisfied customers
I sold a house 50 % Business Use & 50% personal use, ( two
I sold a house 50 % Business Use & 50% personal use, ( two family house) I bought the house on 2001 for 300 sold for 700, during the 45 days Y bought two property one 2 family rental property 100% bus… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
does selling a rental property that qualifies as a primary
does selling a rental property that qualifies as a primary residence ( therefore gain on sale not taxable) negate the ability to recognize all of the carryforward passive activity losses?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
I own a two-family home that is currently up for sale. I have
I own a two-family home that is currently up for sale. I have lived in Apt. 1, which is 40% of the total square footage, for four years now, so it is my primary residence. I have been renting out Apt.… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
I bought a house in 2001, and converted it to a rental property in Oct 2007. I
I bought a house in 2001, and converted it to a rental property in Oct 2007. I'm thinking of selling the house, which would result in ~90k in gains, and $130k out. As far as I understand, if I sold it… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I currently own 3 homes. My primary residence and two ...
I currently own 3 homes. My primary residence and two rentals. I want to sell my primary residence and one rental to by another primary residence that I can also rent (one level of the house). Can I t… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
HELP - How to make my residency for a former investment property.
In early 2004, my then wife and I purchased a 3 unit rental property for investment. A few months later my wife decided she wanted a divorce and I was forced to take residence in one of the units. I h… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
if i sell my two-family owner occupied home for $450,000 ...
if i sell my two-family owner occupied home for $450,000 what would be my capital gains tax. I bought it in 1995 for $155,000. I live in Massachusetts… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
I own a home that was purchased as a 1031 exchange in 2003.
I own a home that was purchased as a 1031 exchange in 2003. I would like to sell but not reinvest the entire resale amount. Is there a way to lighten the capitol gains tax? Before I sell is ther a spe… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
We have a 2 Family home, the mortgage is 297,000, we want ...
We have a 2 Family home, the mortgage is 297,000, we want to sell it asking about 600,000, My husband is 68 I am 65, it is the first time we have ever sold a house, what can we expect to pay on taxes … read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
If my wife and I sell a property that was grant deeded to ...
If my wife and I sell a property that was grant deeded to us over 18 years ago that we have not lived in or rented for the past 17 years for under $500K, will we have to pay capital gains taxes. We ar… read more
Barbara
Barbara
Certified Test Admin. - Personal Coach
Bachelor Degree
182 satisfied customers
I have owned my Virginia property for 3yrs 3mo. I lived in ...
I have owned my Virginia property for 3yrs 3mo. I lived in it only 1yr 6mo as a primary home. I would like to sell this Rental Property. How long do I have from the Sale of the property till how many … read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
Trying to figure capitol gains for Calif. property
We bought a mixed use three story commecial building in 1998 for $190,000. We live on the top floor and rent the second floor as apartments and the lower level for indoor storage units. Over the past … read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
Capital Gains Home Sale - Reinvestment in another property to avoid .
I own a multi family rental home in the State of CT. that I also lived in 8 years ago. I want to sell it and put the profits into my current primary home either paying off the current mortgage or refi… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 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

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 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