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I recently sold a rental property in Maine. The capital gain
I recently sold a rental property in Maine. The capital gain was substantial. Can you tell me the tax rate for capital gains at both the federal and Maine state levels? Also, I am selling my personal … read more
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Second opinion] selling my home which is an investment property, I can do a 1031 exchange to another investment, but I'm thinking of getting a duplex and owner occupy one side. To my understanding I c… read more
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Im semi retired ,sold a rental property Ive had for 3 yrs &
Second opinion] Im semi retired ,sold a rental property Ive had for 3 yrs & have a capital gain about 60K . Im single no dependants & will have about 30 k in 1099 income this year. Will I owe 15% tax … read more
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Depreciation recapture calculation help: I bought a rental property in 2006 for 528K, with 132K down, and a loan of 396K. The current loan balance is 319K. The land value is about 55K. I figure 528-55… read more
taxmanrog
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In 2001 my mother purchased a home in Arizona and added my name to the Deed. It was title
In 2001 my mother purchased a home in Arizona and added my name to the Deed. It was titled joint tenants with rights of survivorship. She died recently. I never lived in the home. What kind of federal… read more
Lane
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JD, MBA, CFP, CRPS
Doctoral Degree
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Would like to sell my rental property but need to know the
Would like to sell my rental property but need to know the taxes associated. I am active military, single parent, and earn $82,000 per year. If I sell the rental property for $205K and original purcha… read more
Lev
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We would like to sell our rental house that has appx. $32,000
We would like to sell our rental house that has appx. $32,000 in depreciation. We will probably show a net profit of $200,000. We live on social security $23,172 and the rental income $18,000. ($41,17… read more
Merlo
Merlo
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I live in California So I am buying a house as an investment
I live in California So I am buying a house as an investment property for $100,000 cash. I was going to either convert Gold Kruggarauds that were left to me by my mom in June 2007. They were about $66… read more
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I got an offer to sell my rental house for 270k, I owe 115K
I got an offer to sell my rental house for 270k, I owe 115K and the agent gets 5%. What will my net profit be after the capitla gains tax. I'm 62 and my husband is 68 yrs. old… read more
Merlo
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In 98 I bought 30 acres of land, built a house and lived there
In 98 I bought 30 acres of land, built a house and lived there for 5 yrs. THEN IN 04 SOLD THE HOUSE WITH 8 ACRES. Now I have sold the remaining 22 acres with a huge profit. also the land was rezoned d… read more
RD
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Have long tern cap. gain of 210,000 on stock Anheuser Bush,
Have long tern cap. gain of 210,000 on stock Anheuser Bush, was bought by Inbev. Have no choich but to receive cash at sell, said to be by end this yr. Am 66 yrs old with aprox. 12,000 income from s/s… read more
Ed Johnson
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I am retired, single, head of house, 1 dependent son. I ...
I am retired, single, head of house, 1 dependent son. I want to sell a business that I paid $60,000. for and now sells for $475,000.00 There will be no capital gains Federal tax if my adjusted gross i… read more
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How much capital gains tax will I owe the IRS if I purchase ...
How much capital gains tax will I owe the IRS if I purchase a house 2yrs. ago as my single family residence; purchase price $449,000 and now the appraised valued is $430,000? I am having a difficult t… read more
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We sold a condo and received a check for 107,000.00. I
We sold a condo and received a check for 107,000.00. I waas toild by my bank investment rep that I would have to pay 20% capital gains taxis this true? And how can I not have to pay it. Thanks… read more
Zhicheng Lai
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What are the laws on capital gain taxes in Louisiana
Getting ready to buy a new house. Would like to know how capital gains could affect the sale of our existing home compared to keeping it as a rental property. Can you please provide info on the capita… read more
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Wendy Reed
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My mother is 91 yrs old. She has lived in her home for ...
My mother is 91 yrs old. She has lived in her home for over 20 years. The original price was $53,00 and she has spent approx. $25,000 in renovations. She will sell this home for approx. $800,000 now a… read more
Christopher Phelps
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I haved lived in the upstairs apartment for two of the last ...
I haved lived in the upstairs apartment for two of the last five years in my two family rental house in kentucky. I always had the other floor for rent. I just sold the duplex rental house. Do I have … read more
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If stock purchased for $4,500 in 1979 is sold for $220,000 ...
If stock purchased for $4,500 in 1979 is sold for $220,000 in 2006, what are the federal and state (Alabama) capital gains taxes due? Optional Information: Geneva, Alabama… read more
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