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I incurred a net operating loss from my rental property in
I incurred a net operating loss from my rental property in 2016 and 2017. I don't have any other income. I owed and paid taxes in 2015. Can I amend 2015 return to apply this nol carryback from 2016 an… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I have a late filed 2017 return with a NOL. For a carryback
i have a late filed 2017 return with a NOL. For a carryback the 2015 year is closed for amendments. Can I carry back to just 2016 or use a form 1045. Lane, I have a client that I am filing 2016, 2017,… read more
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Lane
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Like kind exchanges. If one sold a rental property towards
if one sold a rental property towards the end of 2018 how long would it take to still qualify to defer capital gains before there are new renters in place … read more
Lev
Lev
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I have an NOL in 2015 and 2016. I am just filing those tax
Second opinion] I have an NOL in 2015 and 2016. I am just filing those tax years. Can I elect to forego carryback and then carry those NOLs forward?… read more
PDtax
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I filed a loss (negative AGI) in 2016,17. I'd like to offset
Hi, I filed a loss (negative AGI) in 2016,17. I'd like to offset my earnings this year. I file using turbotax. I hear I can only apply losses going back, but that's new to me and it's already 2019. Wh… read more
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Taxpayer has a residential rental - in Oct 2017 obtains a
Taxpayer has a residential rental - in Oct 2017 obtains a qualified intermediary and does a 1031 exchange of the rental - Dec 2017 the intermediary purchases a related property - the taxpayer fixes up… read more
Stephen G.
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For tax year 2015, I had a foreclosure on rental property
For tax year 2015, I had a foreclosure on rental property with a loss of $120,546 that I reported on form 4797. I received a 2016 1099-C of $220,000 of Cancellation of Debt Income for the same propert… read more
Lane
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I am working on 2015 tax return !! In 2015 i sold a passive
I am working on 2015 tax return !! In 2015 i sold a passive activity rental property at a significant loss !! How and with what form(s) do I declare it on my 1040 ? I also understand that the loss can… read more
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Lev
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I had a loss on a rental property sale of close to $60,000.
I had a loss on a rental property sale of close to $60,000. I held this property for 4 years. I don't have enough other income to completely offset this loss. As I understand form 4797, this loss is s… read more
Stephanie B.
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I am selling a rental home and calculated a $46000 net gain.
I am selling a rental home and calculated a $46000 net gain. Besides my 401k, where else can I put this money to counter my capital gains? Is there a way to put the money into my current home and take… read more
Robin D.
Robin D.
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I sold a house 50 % Business Use & 50% personal use, ( two
I sold a house 50 % Business Use & 50% personal use, ( two family house) I bought the house on 2001 for 300 sold for 700, during the 45 days Y bought two property one 2 family rental property 100% bus… read more
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Lev
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Im selling real property and doing a 1031 exchange. The
I'm selling real property and doing a 1031 exchange. The property I'm selling isn't under contract/in escrow. I have a property I'm buying under contract now. Assuming I can make the time line work, c… read more
Lane
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I got caught in the AZ real estate down fall. I bought a home
I got caught in the AZ real estate down fall. I bought a home while owning a home that I though could sale while the other one was being built. It did nto happen so I kept the other home. I moved into… read more
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Question 1 I have owned a rental home (in Georgia) for a number
Question 1: I have owned a rental home (in Georgia) for a number of years which has provided me with good income. However, I want to sell the rental home as the neighborhood is "not what it use to be"… read more
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Hi, I bought a vacant land in LA county 20 years ago, I
Hi, I bought a vacant land in LA county 20 years ago, I am planning to sell it and use the money to buy a condo as an income property. I would like to know if the capital gain I will have from the lan… read more
Merlo
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My in-laws want to sell one of their investment properties
My in-laws want to sell one of their investment properties and do a 1031 exchange on a property they would invest in WITH us. We love the idea, but are ready to buy now and they won't be able to list … read more
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I am selling a business and starting up another business. I
I am selling a business and starting up another business. I will have a profit from the business I am selling of 25k. Can I put this money into inventory at the new business and not pay 25k in gains f… read more
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Lev
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If I sell my comercially zoned vacant land and turn ...
If I sell my comercially zoned vacant land and turn around in a month or so and buy a commercial or rental property, will I have to pay capital gains on the vacant land I sold? Optional Information: H… read more
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