Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
If you sell a rental property How can you avoid capitol
If you sell a rental property How can you avoid capitol gains tax? … read more
Tax.appeal.168
Tax.appeal.168
Principal
5,229 satisfied customers
I am in need of assistance with real estate questions
Hello, I am in need of assistance with real estate questions relating to a 1031 exchange. My 2 sisters and I would like to sell a property in NYC and purchase 3 separate houses elsewhere.Here are the … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
In a PARTIAL 1031 exchange the basis of the old property
in a PARTIAL 1031 exchange the basis of the old property rolls over into the new acquired one ? or does it go against the cash boot to offset capital gains tax?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
14,081 satisfied customers
If I receive a similar investment property plus $300000 in
If I receive a similar investment property plus $300000 in lieu of my investment property, can I buy another property under 1031 exchange and not pay the taxes on extra 300000 which I received?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
28,206 satisfied customers
I would like to buy an old house and flip it. If I start a
I would like to buy an old house and flip it. If I start a new business and pay cash for the old house, how much can I write off of my taxes. I have a 700k long term capital gain for 2017… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
28,206 satisfied customers
My motherhas been informed by mortgage broker that she can
Hi Again. My motherhas been informed by mortgage broker that she can purchase property in Florida now as a second home (lower down payment and interest), then ONCE she sells her current investment hom… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I would like to purchase 1031 exchange. But need to
I would like to purchase for a 1031 exchange. But need to understand what's feasible. I'm selling a property (relinquish property) for about $310K and would like to purchase another one for $320K. My … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
28,206 satisfied customers
With Capital Gains Tax, in AZ if 1st bought home 150,000 cash
With Capital Gains Tax, in AZ if 1st bought home 150,000 cash 8yrs ago, lived for 4 yrs, started renting at that next 4yrs, bought 2nd house 170,000 with mortgage. Present Value 1st house approx., 127… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
14,081 satisfied customers
ON a 1031 exchange, I have a TIC which will be closed out in
ON a 1031 exchange, I have a TIC which will be closed out in 3 to 4 month. There is a substansial loan, which will be paid off at closing. Does the amount of the loan, influence a new 1031 exchange? T… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
14,081 satisfied customers
Im looking to sell a property in NY (will make a small profit)
I'm looking to sell a property in NY (will make a small profit) and buy a new one in MD. Trying to figure out how to minimize my tax liability. (i.e. can i roll the profits from the sale into the new … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
14,081 satisfied customers
What tax should I consider when selling rental property? And
What tax should I consider when selling rental property? And if I were to apply 1031 and buy another rental property after selling the current unit, what is the grace period to exercise and who. Shoul… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
28,206 satisfied customers
if a building is sold on Dec. 26 2013 and an 1031 exchange
if a building is sold on Dec. 26 2013 and an 1031 exchange occurs, what happens if the seller does not find a suitable property in the 45 day period? does the tax get calculated in the 2013 year or 20… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
28,206 satisfied customers
I just learned about IRS section 1031. Im about to close on
I just learned about IRS section 1031. I'm about to close on a property and my capital gain would be around $120,000. I am just some detailed explanation. Example: I sold my investment property for $3… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
We sold some investment real estate in 2010. Our understanding
We sold some investment real estate in 2010. Our understanding is that we have 18 months to rollover the capitol gains. Is that still true? If so, how do we handle that on our tax return if we haven't… read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,512 satisfied customers
Last year I did a proper 1031 exchange, but it has proved to
Last year I did a proper 1031 exchange, but it has proved to be a poor investment. Can I do another exchange with this property in this short a time? If not and I sell outright how is the tax determin… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
I am selling a motel and is being converted to ...
I am selling a motel and is being converted to condos. I bought the motel for 850000 and am selling it for(NNN) NNN-NNNN what are my options for paying capital gains?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
28,206 satisfied customers
If I sell a rental property and recieve a profit of $58,000 ...
If I sell a rental property and recieve a profit of $58,000 in 2006 what are my liabilities regarding taxes on the profit and if I am in a 32% tax braket how would I compute my capital gains, 2nd part… read more
Zhicheng Lai
Zhicheng Lai
Master Degree
426 satisfied customers
Sold 100% of company - Stock Sale - C Corp.what tax ...
Sold 100% of company - Stock Sale - C Corp. what tax advantages do I have that will help reduce my capital gains taxes… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
28,206 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