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I live in California and I'm trying to better understand the
I live in California and I'm trying to better understand the tax implications (Capital Gains Taxed) if I sell my rental. I've read many articles and think I understand the basics. I understand there i… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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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
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I own and reside in a 2 family house. I am considering
Hello, I own and reside in a 2 family house. I am considering converting it to two condominiums, selling my unit and moving into the other. If I live in the previous rental unit for 3 or 2 years and t… read more
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If you have a 3 family home which is partially rented and
If you have a 3 family home which is partially rented and partially your residence and you have lived there the last 10 years, do you get full $500k exclusion as a married couple when sold or does it … read more
Robin D.
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Vocational, Technical or Trade School
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In October 2008, I purchased a home and lived in it until August
In October 2008, I purchased a home and lived in it until August 2011 when I purchased a different home. I converted the first home into a rental until it sold in May 2013. Because I lost money in thi… read more
Lane
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In 1976 my wife & I bought a two-family house for $47,000.
In 1976 my wife & I bought a two-family house for $47,000. For 33 years we lived in one apartment & rented out the other. In 2009 we sold the house for $615,000 [and bought a 1 family home for $475,00… read more
Lev
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Tax consequences of selling one half interest in home, turning
Tax consequences of selling one half interest in home, turning it into a rental for 26 plus years, then selling it in 2007. With proceeds bought a larger home to live in 26+ years ago… read more
Marvin,EA
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I am in a divorce proceeding in Pennsylvania. We own a marital
I am in a divorce proceeding in Pennsylvania. We own a marital residence (which will go to my spouse) and a rental property (which will go to me). Both properties are now in both of our names. The ren… read more
Merlo
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I am getting married April 21st. My fiancee and I both own ...
I am getting married April 21st. My fiancee and I both own our own homes and lived in them for over 6 years. I am selling my home and later she, her home. Will we be taxed capital gains on either of t… read more
Wendy Reed
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My original price of my home was 222,000 and 18 years later ...
My original price of my home was 222,000 and 18 years later we sold for 816,000. So net to us was 771,120. So with the 500,000 exclusion to married couples, am I looking at capital gains of 49,120?… read more
RD
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my wife and i are 50/50 owners of a house, it has been my ...
my wife and i are 50/50 owners of a house, it has been my residence for 30 years, she hasn't claimed it as her primary residence for 5 yrs. we are both over 67 and now before we sell we need tax and c… read more
Lev
Lev
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Selling a duplex & buying a single family home in California
i'm selling a duplex and buying a single family home in california and would like to know what is the max amount of gain on the property that I can have withheld from taxes. 1) my husband originally b… read more
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My husband and I have under contract a piece of rental ...
My husband and I have under contract a piece of rental property. We purchased the house and lived in it from January of 1995 until May 1, 2004. We rented/leased the property on May 1, 2004, purchased … read more
Sandi Hargrove, SkyHawks
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My wife and I seperated 11/04, We sold our principle ...
My wife and I seperated 11/04, We sold our principle residence 7/05. No capital gains were due. We remain married and filed jointly for 05. I moved into a rental unit we owned on8/28/05. I had an inte… read more
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We lived in a house for 15 years, moved w/out selling in ...
We lived in a house for 15 years, moved w/out selling in November 2004. We rented the house for a year and need to know the timespan regarding capital gains. We bought our new house in Sept. 2004, mov… read more
Sandi Hargrove, SkyHawks
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I live in VA. We lived in our previous home until late ...
I live in VA. We lived in our previous home until late April of 2002. We moved and rented it out starting in July of 2002. We sold the house in March of 2005. Do we have to pay capital gains taxes or … read more
Lev
Lev
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Do I have to pay capital gains tax on a property that ...
Do I have to pay capital gains tax on a property that I have owned and just sold after 2 years?… read more
Sandi Hargrove, SkyHawks
Sandi Hargrove, SkyHawks
Master Tax Pro and Enrolled Agent
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we are selling our house me and my wife have leaved in ...
we are selling our house me and my wife have leaved in it for 12 years we have good profit what typ of tax are we going to be charged and do we get a some kind of tax brake because we leaved in it for… read more
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