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Had home in Puerto Rico that was rented. I now live in U.S.,
had home in Puerto Rico that was rented. I now live in U.S., Sold home in P.R. recently. Do I have to pay US income tax on proceeds … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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I have a Question on Capital gains taxes. I bought my home
Hello,I have a Question on Capital gains taxes.I bought my home in May 2013 (lets call it home 1 for reference). I moved to a different home and rented home 1 on Jan 2016.I moved back to home 1 in May… read more
emc011075
emc011075
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I sold a home that I owned since 2008. I lived in the home
I sold a home that I owned since 2008. I lived in the home for several years, then moved for work, and rented the home for the past three years before selling. The timeline is:Bought home in Wood Hills, Los Angeles - 7/30/2018 Lived in the home till - 12/31/2014 Moved to San Jose for a new job (Change in employment) - starting 1/2015 Rented home - starting 2/19/2015 Rental Terminated - effective 2/19/2018 Put house on the market to sell - 3/1/2018 (I was not living in the house during this time) Sold Home - 4/24/2018 … read more
taxmanrog
taxmanrog
Master's Degree
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I have a question about avoiding term capital gains tax on
I have a question about avoiding long term capital gains tax on the sale of rental property that I have rented out for the past 8 years. By living in the property for the next 2 years before selling i… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
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Lane, A property was purchased as a two family house. One of
Lane,A property was purchased as a two family house. One of the units was rented out for several years and the other unit was a personal residence. 4 years back the last tenant moved out and it was ne… read more
Lane
Lane
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Doctoral Degree
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I have a question regarding my tax situation. I've just sold
Hi, I have a question regarding my tax situation. I've just sold a home and I would like to know if I can claim it as primary residence.Thank you… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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I think I need a certified public accountant but didn't see
I think I need a certified public accountant but didn't see that in your categories... Question is about owning two homes at the same time but now want to turn one into a rental. How will this affect … read more
Brian Michels
Brian Michels
Partner, CPA
Bachelors of Business Administration
199 satisfied customers
If I share an investment property with my sibling and one of
If I share an investment property with my sibling and one of us moves in and sells it, is there any benefit in reduced capital gains tax to one or all siblings? Or is it an all or none situation where… read more
Matthew Breecher
Matthew Breecher
President
MBA (Graduate Legal Studies)
283 satisfied customers
This involves the sale of personal home that was rented out
This involves the sale of personal home that was rented out for a portion of time during the five year period prior to the sale date. At time of sale the adjusted basis was $331,000 which includes sub… read more
Phillip B, EA
Phillip B, EA
Tax Advisor
Bachelor's Degree
570 satisfied customers
I sold a house in Austin back on July 2014. I have a rental
I sold a house in Austin back on July 2014. I have a rental home that I've rented for almost three years (lived there 2 out of the 5 past years) and that I want to sell this summer, before the 5 years… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,392 satisfied customers
I moved overseas 3 years ago. I leased my texas home out at
I moved overseas 3 years ago. I leased my texas home out at that time and it has been a lease property till now. we are headed back to the states soon and plan to move back into that property for a sh… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,392 satisfied customers
My wife and I purchased a home on 1/23/1989. In 1999, my wife
My wife and I purchased a home on 1/23/1989. In 1999, my wife and I divorced and I received full ownership of the home by way of quick claim deed. In 2004 I married my current wife and re-financed the… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,392 satisfied customers
We moved to a new house last june 2009. We put the old house
We moved to a new house last june 2009. We put the old house on the market and it hasn't sold. We rented it in Febuary 2010 and put back on market in June 2010 with the renters in the house. We are co… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
17,888 satisfied customers
I bought a home with my then husband in 1982 for 50,000. When
I bought a home with my then husband in 1982 for 50,000. When we divorced he sold his half to me for $1 in 2002. We lived in the house until 1989. We rented it out from 1989 to 2000. I moved in 2000 t… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
1,240 satisfied customers
In 2007 I sold the house that I owned before I was married.
In 2007 I sold the house that I owned before I was married. I had rented it for the last two years. I had lived in it two out of the last five years. My question is - Can I write off the 12,000$ pre-p… read more
RD
RD
Self Employed
Master's Degree
1,129 satisfied customers
I am active duty military and had to move after one ...
I am active duty military and had to move after one year of buying my house; I was on orders to move. I owned the house for 27 months total and lived in it for 11 months, then rented it for the remain… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,392 satisfied customers
I bought a house in 1994. Started building new home in 2000 ...
I bought a house in 1994. Started building new home in 2000 thinking I would sell 1994 house before I closed on new one. Could not sell 1994 house and rented until sold in 2005. Had borrowed money fro… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
We live in Nebraska. We owned our first home and lived in ...
We live in Nebraska. We owned our first home and lived in it for 26 years. We moved and were unable to sell our home immediately, therefore we rented it out for 26 months. We have now sold our home. F… read more
Jon Andrews
Jon Andrews
CPA
3,038 satisfied customers
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