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Can you help me? My siblings are working with our mom's
Can you help me? My siblings are working with our mom's trust update. I'm trying to figure out what the capital gain is ROUGHLY on 2 of my mom's rental properties. One is worth $500k and has a cost ba… read more
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I had a rental for 4 years that I just sold, I didn't put the rental income on my taxes- what should I do now, and how do I pay the taxes I owe on the sale? … read more
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I have a condo that I bought for 165,000 in 1990. I started
I have a condo that I bought for 165,000 in 1990. I started renting it in 1996. It has not been in rental for 22 years. Depreciation to date is about $135,000. Leaving out any improvements and costs a… read more
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Our family Trust sold a commercial building in 2016. What is
Hello. Our family Trust sold a commercial building in 2016. What is the tax rate applied to the capital gain ? (gain is 100,000 approx.). Mark W. … read more
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I inherited land worth 343k and sold in the same year. how
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I am a US citizen residing for many years outside the US. I
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Wife inherited an 8-plex apt building 7-8 years ago from her mother and has been netting 36K a year from rents. Now is she sells the property, does she pay both an IA sales tax and long-term capital g… read more
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My wife inherited a promissory note with established monthly payments including interest. It was set up by her deceased uncle to cover real estate that he had sold. She would like to continue to recie… read more
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I own a duplex in 2007, the peak of the real estate market
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My friend has a doctors practice, he built a building and
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I will be receiving approx 100K from the sale of a building
I will be receiving approx 100K from the sale of a building that was left to my sister and I. Is this taxable income and if I use this as a downpayment for a house would it be taxed at the same rate?… read more
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My wife and I owned a rental house on 2 building lots. We
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Capital Gains Tax. I live in a two-flat building. How ...
Capital Gains Tax. I live in a two-flat building. How does this affect the the Capital Gains law when I sell the property. Do I pay taxes on the profit from the sale of the building?… read more
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My grandmother passed away a few years ago, at the time of ...
My grandmother passed away a few years ago, at the time of her death she left her undivided interest in the farm land she owned with my grandfather as follows. 1/2 to my grandfather and the remaining … read more
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My Father passed away in 2002. My mother is still alive ...
My Father passed away in 2002. My mother is still alive and now is the sole owner of a 24 unit building. In 1991 they sold a 20 unit and bought the 24 unit in order not to pay the capital gains tax. S… read more
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Wallstreet Esq.

Wallstreet Esq.

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10 years experience

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Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

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586 satisfied customers

10 years experience

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jgordosea

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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.

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