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I recently sold my property in San Francisco. 70% of it was
Second opinion] I recently sold my property in San Francisco. 70% of it was income property, 30% was owner occupied. Now I want to purchase another property as a primary residence. I do not believe th… read more
Robin D.
Robin D.
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Lane, I have a client who bought a house that they are
Hi Lane,I have a client who bought a house that they are fixing up an plan to rent. So in 2017 the house was not available for rent because they were fixing it up. Can I start to depreciate those expe… read more
Lane
Lane
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Can you help with a capitol gains related tax question?
can you help with a capitol gains related tax question? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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I have a question related to 1031 rental property exchange
I have a question related to 1031 rental property exchange involving foreign properties … read more
emc011075
emc011075
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I did a 1031 transaction a few years ago, where I deferred a 85k gain. With a Basis of the
I did a 1031 transaction a few years ago, where I deferred a 85k gain. With a Basis of the like kind property sold of 162k (256k sale proceeds). I purchased two properties with the 1031 exchange that … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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1. can my corp pay me rent for an office in my home when I'm living in it too? 2.
1. can my corp pay me rent for an office in my home when I'm living in it too? 2. if my corp pays me rent, does this make my house an investment property and can I do a 1031 for investment property? A… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
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Bought a house for an investment/flip. Almost done with the
Bought a house for an investment/flip. Almost done with the repairs and want to sell the house. I realize capital gains tax will come into play but I'm wondering if a 1031 exchange is an option for me… read more
Megan C
Megan C
Certified Public Accountant (CPA)
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My wife and I purchased a distressed property this year that
My wife and I purchased a distressed property this year that we planned to rehab and make our primary home. Due to some life changes, we have decided to sell that property and purchase a home that nee… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
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Hello, I wanted some advice on whether I should convert my
Hello, I wanted some advice on whether I should convert my traditional IRA to a Roth IRA. I'm 27 years old and earn roughly $35k a year. I have $20k in a savings account, $8k in an individual investme… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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Is there such thing as a one time tax exclusion for people
Is there such thing as a one time tax exclusion for people over 55? Im selling my business (sole proprietor) and will have to pay capital gains on the down payment and will be spreading the balance of… read more
douglasgreenberg
douglasgreenberg
4 satisfied customers
Hi.My name is Aleks. I want to sell my co-op that I got way
Hi.My name isXXXXX want to sell my co-op that I got way below market price 2 months ago and put my profit as a down payment for the house.Is that profit will be taxed? Thank you.… read more
Merlo
Merlo
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558 satisfied customers
I sold a commercial building in July 2009, and the proceeds
I sold a commercial building in July 2009, and the proceeds of the sale paid off a buildling that was purchased to replace that building. The purchase resulted in a gain, although the gain paid off th… read more
Merlo
Merlo
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I am in the process of a 1031 exchange. I expect to net
I am in the process of a 1031 exchange. I expect to net gain of $184,771.90 from the sale of the existing property. (Total sale price $200K) I am in the process of exchanging the above for a property … read more
Jon Andrews
Jon Andrews
CPA
1,498 satisfied customers
I sold by business in May 2008 and have paid my capital gain
I sold by business in May 2008 and have paid my capital gain taxes thanks to my CPA. My question is how do i go about getting it back? I'm working on buying a new business asap and would like to use t… read more
Merlo
Merlo
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I purchased a house for $45000. I renovated it for $60995.
I purchased a house for $45000. I renovated it for $60995. I sold it for almost 139,000. I made a$31000 profit. I purchased another house with a friend for $57000. I put up $31000 and he put up $26000… read more
Merlo
Merlo
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I have a Fl. condo which was purchased in 1987 for $82K, and
I have a Fl. condo which was purchased in 1987 for $82K, and has been in rental and depreciated for the last 20 years. I can now sell it for approx. $475K, question is how to minimize the long term ca… read more
Ed Johnson
Ed Johnson
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I sold a piece of raw land owned for more than one ...
I sold a piece of raw land owned for more than one year for 2500,000 then purchased a piece of land for 245,000 which has a house on it. What are the tax ramifications?… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I live in Oklahoma and am selling some real estate for a ...
I live in Oklahoma and am selling some real estate for a several million dollar long term capital gain. Would it be better to do a 1031 exchange or take advantage of the low long term capital gain rat… read more
Jon Andrews
Jon Andrews
CPA
1,498 satisfied customers
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