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I have a new client that sale of inherited property was
I have a new client that sale of inherited property was reported on Form. 4797 not on Form 8949. By doing this he wrote off the entire loss. This was inherited in 20 7 sold in 2018. No income from the… read more
Tax.appeal.168
Tax.appeal.168
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I was a stockholder in a Sub S Corp in 2018, the corporation
I was a stockholder in a Sub S Corp in 2018, the corporation sold all assets and distributed proceeds Dec 31, 2018. It is a long term capital gain. Is there anywhere else on my tax form, other than th… read more
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I am curious if I need to fill out form 4797 and 8594 for a
I am curious if I need to fill out form 4797 and 8594 for a sole proprietership last year I sold. We paid $405,914 in 2013 which includes closing cost to purchase. We bought and sold the business for … read more
PDtax
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I've had three separate realty property transactions in 2018
I've had three separate realty property transactions in 2018 - I'm not sure if or how they should be reported on my tax return. Can I get advice on this problem? … read more
Lev
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I am doing my income tax online, I received a Form 1099-S
I am doing my income tax online, I received a Form 1099-S because I sold a house I owned. I am the Transferor. I am confused, where do I enter the information from the 1099-S on my 1040 Tax Return? … read more
Stephen G.
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Trying to figure out how to to fill out a form 4797 for a
trying to figure out how to to fill out a form 4797 for a rental property i sold in april 2018 … read more
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I have a question about basis of a property, specifically in
Hi, I have a question about basis of a property, specifically in terms of what to report on Form 4797. It was received upon the death of a relative. She had a basis of $30,000 and the FMV of the build… read more
Tax.appeal.168
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I have a question that has to do with selling a house and
I have a question that has to do with selling a house and what tax considerations I need to take into account. The house was received from a relative in 2012. The FMV for the residence was 175,000 and… read more
Chad EA, CDFA®, CFP®
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I need help with a Schedule D form for 2016. It's about farm
It's about farm land I sold. The property was inherited. … read more
Robin D.
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My sister and I inherited our parents house in March of 2016
My sister and I inherited our parents house in March of 2016 and sold it in January 2017. The appraised value at time of inheritance was 37600.00 for the building and 18200.00 for the land. We sold th… read more
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I have an investment property in Dubai that purchased 10
I have an investment property in Dubai that purchased 10 years ago. It project never finished and the building is still half way built and the builder ran out of money, I want to abandon this property… read more
Jason M. Tyra, CPA
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I executed a 1031 swap in 2014. I've filled out Form 8824.
I executed a 1031 swap in 2014. I've filled out Form 8824. How do I fill out line 2 of Form 4797? I sold one property, bought another. Do both go on line 2 of Form 4797? The sum of both? No complicati… read more
Mark D
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I inherited my parents home many years ago. No one ever rented
I inherited my parents home many years ago. No one ever rented it. We did allow some people to stay in it once in a while. Real Estate was way down and didn't know what to do with it. So I Sold the ho… read more
Megan C
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What federal tax forms need to be filed to report the yearly
What federal tax forms need to be filed to report the yearly capital gains on the inherited promissory note addressed in my prevoius questions? Thanks… read more
Lev
Lev
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I sold a property January 22nd, 2010 on land contract for a
I sold a property January 22nd, 2010 on land contract for a loss. The property was held in my LLC and the depreciated value is $46,580 (as of 12/31/2009). The selling price was $45,000 with nothing do… read more
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We have sold our rental property this January 2006. We ...
We have sold our rental property this January 2006. We have also purchased another rental property at the some time to replace it. We have been told to fill out a 1031 exchange form, but those do not … read more
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Where do you report a 1099s received for your portion ...
Where do you report a 1099s received for your portion of proceeds of sale of property inherited?… read more
Lev
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I have recently sold a condominium in CT which I ...
I have recently sold a condominium in CT which I purchased in 1988 at 105,000, and sold at 97,000. The property has been rented out (not my primary residence) from 1990 until 2005. How do I claim this… read more
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