Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
Our son has capital gain on his investment property he is selling,
our son has capital gain on his investment property he is selling, can he buy our investment property BY ASSUMING THE LOAN AND AVOID CAPATAL GAIN TAX AND CONTINUE TO LIVE IN THE HOME? ( HE AND HIS FAM… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
If I section 1031 exchange a piece of rental real estate
If I section 1031 exchange a piece of rental real estate for another piece of real estate can I gift a portion of the new property to my son without triggering capital gains tax? How about instead of … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,636 satisfied customers
I have purchased a property under my parent's name as a
I have purchased a property under my parent's name as a rental property years ago for $92,000, and my parents had reported rental income and expenses throughout the years, and the property is currentl… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
My parents have recently sold a property and set up a 1031
My parents have recently sold a property and set up a 1031 exchange with $1,176,000 in it. My understanding is that we can buy a property together so long as they are on title for the amount of the ex… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,603 satisfied customers
If I sell a rental real estate property (condo) for a net profit,
If I sell a rental real estate property (condo) for a net profit, then buy another real estate property (single family house) in a few weeks as a 1031 exchange, rent this new property out to somebody … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
Can I sell 50% of my rental property an use that cash in a
Can I sell 50% of my rental property an use that cash in a 1031 exchange to buy another rental property?… read more
Zhannaxena
Zhannaxena
42 satisfied customers
Using 1031 exchange funds in 2006 I purchased a 50% share in
Using 1031 exchange funds in 2006 I purchased a 50% share in a small strip mall as part of a Tenants in Common Agreement. About 6 months ago, I purchased another 15% share in this same mall (from one … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
we are considering selling a two-family house (we live in one
we are considering selling a two-family house (we live in one half, rent the other half) and buy a single family. We are aware of 500K capital gain exclusion for married couples, but the capital gain … read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,512 satisfied customers
Re Starker Exchanges Can the acquired property be a new
Re "Starker" Exchanges: Can the acquired property be a new house to be built on land I already own? I currently live in Virginia. I also own a townhouse/condo nearby which I have rented out for more t… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
My in-laws want to sell one of their investment properties
My in-laws want to sell one of their investment properties and do a 1031 exchange on a property they would invest in WITH us. We love the idea, but are ready to buy now and they won't be able to list … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
Is there a way to avoid capital gains tax for both parties
Is there a way to avoid capital gains tax for both parties in this senario? Son sells his rental home and land, takes the profit and buys some of his dad's land.… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I want to buy our family farm from my grandparents. They are
I want to buy our family farm from my grandparents. They are not highly motivated to sell fearing a high level of capital gain tax. The land at question is 152 acres of tillable farm ground in Iowa pu… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I have a client that is 85 years old with a dob of 1/30/23.
I have a client that is 85 years old with a dob of 1/30/23. She is widowed as of several months ago. She is living with her son and only has income from Social Security of $995 per month since the pen… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I own an apartment building which I rent out. The mortgage ...
I own an apartment building which I rent out. The mortgage is paid off and the building is currently for sale. If I take equity out of that building to buy another rental property how does that affect… read more
David Schneider
David Schneider
Tax Accountant
Self disciplined college classes
74 satisfied customers
CPA Tax question. - I buy and sell real estate. I own
CPA Tax question. - I buy and sell real estate. I own several properties. My lender said I would have to sell one of my properties in order to be under their limit of “maximum allowable number of prop… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
ST. LOUIS QUITCLAIM TAX STRATEGY Background 5 year old ...
ST. LOUIS QUITCLAIM TAX STRATEGY Background 65 year old Mother quitclaimed to son the family home for 1 dollar in 2004. Mother still lives in home and will continue to do so for next 10+ years. Origin… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
I want to sell undeveloped property. Can that money be ...
I want to sell undeveloped property. Can that money be used to build a house and avoid capital gains taxes? Can any of the monies be gifted and avoild capital gains on the gifted amount?. Thank you fo… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
Could you please tell me the tax consequences if any (or if ...
Could you please tell me the tax consequences if any (or if this is even possible) of the following sequence of actions: 1. My parents buy a condo using a 1031 Exchange from an existing property that … read more
Jon Andrews
Jon Andrews
CPA
3,038 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