Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
My mother sold a house to my brother on a 30 year land
My mother sold a house to my brother on a 30 year land contract in Wisconsin, my brother has lived there for 6 years, the house is being sold so my brother can buy a different house and finance throug… read more
Rick Martin
Rick Martin
MBA
184 satisfied customers
I received a 1099-S Form - Proceeds from Real Estate
I received a 1099-S Form - Proceeds from Real Estate Transactions. My brother who is now deceased had a life estate in the real property which was our family home. The deed stated that the property wa… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
4,994 satisfied customers
My family own 225 acres and we have a 1 million tax
My family own 225 acres and we have a 1 million tax exemption because we inherited the property 10 years ago. We are selling 21 at 1.6 million. My question is can we apply all the tax exemption on thi… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,190 satisfied customers
My parents were the grantees of a Real Estate LIFE ESTATE in
My parents were the grantees of a Real Estate LIFE ESTATE in 1957 on a home and 50 acres. Per the 1957 deed, their children will take title to the property upon the death of both parents. My sister an… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,926 satisfied customers
My great grandma quick deeded farm land to my dad,in1971 she
My great grandma quick deeded farm land to my dad,in1971 she died in 1975 in the deed it stated my dad had the land unti he died it was then my mothers until she passed. She passed in 2010 my dad in 2… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
2,290 satisfied customers
Real Estate/Capital Gains Tax Law Question If I split off
Real Estate/Capital Gains Tax Law Question: If I split off and sell a portion of my lot to a third party, retaining the rest for myself, what is the basis of the sold land for capital gains purposes? … read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
My three sisters want to gift me their portion of my mothers
My three sisters want to gift me their portion of my mother's house that we inherited when our mother died on March 18,2008. We inherited the house via beneficiary deed in the state of Arizona. At the… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,464 satisfied customers
my dad died in 1958 so my mom, brother, sister and I by court
my dad died in 1958 so my mom, brother, sister and I by court received 27.5 acers because my day and my uncle owned the property. 01/02/09 we closed on the property selling 25.45 acers for 205,000 dol… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
My father inherited 15 acres of land in rural Georgetown,SC.
My father inherited 15 acres of land in rural Georgetown,SC. He had it partitioned through the Georgetown Cnty Court in 1998 and his share resulted in 8.13 acres. My siblings and I inherited the 8.13 … read more
RD
RD
Self Employed
Master's Degree
5,572 satisfied customers
My sisters and I were given property in 1987 as part of my
My sisters and I were given property in 1987 as part of my parents divorce. My father died in November 2007 and we sold the property in October 2008 for $127,000. Do we have pay capital gains tax? If … read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
1,732 satisfied customers
When my mother and father passed away, I inherited 40 acres ...
When my mother and father passed away, I inherited 40 acres of land plus another 40 acres which is split between my brother, sister and me. If I choose to sell my 40 acres of land, how much of a capit… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
State of Georgia, husband has some property that was given ...
State of Georgia, husband has some property that was given in a life estate in 2003. 2004 built a home on the land which was financed by my mother in law and with no collateral. If we sell the home an… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
Dear Ed You just answered a question for me about the ...
Dear Ed: You just answered a question for me about the sale of my parents property. Thank you. How is the capital gain amount determined? My sister is keeping her existing mortgage on the house and 10… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
- Howell Properties of NC, LLC was formed in 1999 - owned ...
- Howell Properties of NC, LLC was formed in 1999 - owned by 2 brothers (no other owners or investors). - in 1999, 2 farms (54 acres & 70 acres = 124 acres) inherited and owned personally by the broth… read more
Jon Andrews
Jon Andrews
CPA
1,498 satisfied customers
My fiance and I purchased a property in January (4 ...
My fiance and I purchased a property in January (4 months ago) that had about 1.5 acres of land and a house for approx. $555K. When we bought this property, we had a verbal agreement with the neighbor… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
2,290 satisfied customers
I am a 64 year old Total and Permanant Disable Veteran. I ...
I am a 64 year old Total and Permanant Disable Veteran. I just bought a New Home in Newton County, Georgia. Does my status under Georgia exempt me from Property Taxes??… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I sent this question in once before; however, I am not sure ...
I sent this question in once before; however, I am not sure that I gave sufficient detail to trust the answer that I received. So, I am asking it again...this time with more detail....................… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
1,732 satisfied customers
I have a brother and two sisters. We own 120 acres in ...
I have a brother and two sisters. We own 120 acres in Southwest Iowa. Our father passed away in 1989. Our mother in February of this year. Ownership of the farm was transferred to us 5 years ago. Our … read more
RD
RD
Self Employed
Master's Degree
5,572 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