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I sold my home for 257.900 but after all Realitor fees and
I sold my home for 257.900 but after all Realitor fees and closing cost I only received 245,000 Do I have to pay taxes … read more
Tax.appeal.168
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Principal
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In 2008 is purchased a condominium for $245,000. The condo
In 2008 is purchased a condominium for $245,000. The condo was used as a nightly rental. In 2018, I sold the condo for $275,000. I am retired and in a 15% tax bracket. How much tax am I likely to owe … read more
James Daloisio
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What would capital gains tax be on 245,000 in MN? we would
what would capital gains tax be on 245,000 in MN? we would like to pay off the mortgage on our full time home plus a small home line of credit on the 2nd property. I know that the heloc will be paid a… read more
Robin D.
Robin D.
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I am an Ohio resident. I purchased a Florida vacation condo
I am an Ohio resident . I purchased a Florida vacation condo in 2015 for $52000. I bought … read more
Chad EA, CDFA®, CFP®
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I lived in my condo that I bought after separating from my
Hi, Christopher. I lived in my condo that I bought after separating from my husband in April 2012. I filed for divorce around mid 2013 & it finalized in January 2014. I told my condo in August of 2013… read more
Barbara
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Hi, How do i record a purchase of a note (building in the Bronx).
Hi, How do i record a purchase of a note (building in the Bronx). We purchased the note for 2.9mm all cash, 900k in closing costs (commissions & Acq. fees) still outstanding. Not really sure how to re… read more
taxmanrog
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My corporation sold the house it owned through foreclosing
My corporation sold the house it owned through foreclosing on an upaid mortgage. The original unpaid mortgage amounted to $245,000. We sold the house last October for $205,000. How should we report th… read more
Gerri A Harrison CFP EA
Gerri A Harrison CFP EA
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Our mother purchased a condo in Nov 1995 for $84,000 and transfered
Our mother purchased a condo in Nov 1995 for $84,000 and transfered or put our names (3 siblings) as owners in Feb 1999 (was this a gift?). She lived there and paid association fees but none of the si… read more
Robin D.
Robin D.
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Our mother had transferred title to her home to my brother
Our mother had transferred title to her home to my brother and I . The lawyer had made this title subject to a life estate. House could only be sold upon her death. Mom had passed away in 2008 house s… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I bought a condominium after a separation from my husband.
I bought a condominium after a separation from my husband. Approx. 6 months later I sold the same condo and moved back in with my husband to our marital home. Do I pay tax on the money I made from the… read more
Jon Andrews
Jon Andrews
CPA
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I put a down payment on an under construction condo and then
I put a down payment on an under construction condo and then bought and sold it on the same day. My down payment was $6600. On paper, I bought the property for $168,000 (so I only needed a loan on pap… read more
Dave Z
Dave Z
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This question is in regard to processing a 1033 exchange within
This question is in regard to processing a 1033 exchange within IRS rules. I am a NJ resident but own a condo, 2nd home and not investment property, in SC. In 2007, I purchased a lot in SC for $100K w… read more
Merlo
Merlo
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i originally bought my house 6 years ago 50/50 with my ...
i originally bought my house 6 years ago 50/50 with my partner. After 2 years we argreed i would buy out her half. After consulting with a realitor and mortgage broker we came up with a fair market va… read more
Mark D
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I pre purchased four condo units in an upscale area of ...
I pre purchased four condo units in an upscale area of Destin, FL in 2003 and after a price increase repurchased them agan in 2004 with hard contract Sept, 2004. I closed on all four units in Sept, 20… read more
MequonCPA
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I sold my vacation condo in Florida and made a ...
I sold my vacation condo in Florida and made a profit. Can I deduct improvement costs and condo fees and hurricane assessments when filing my capital gains form?… read more
Ed Johnson
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We recently sold my mothers condo in Michigan. My ...
We recently sold my mothers condo in Michigan. My sister and I both were named on the title along with my mother. We each received about $35000 in a check from the title mortgage company. Do I have to… read more
Wendy Reed
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Real estate transfer tax question for Chicago only
I live in Chicago. In 2005, I sold my condo in Chicago and bought another condo in Chicago. On my closing HUD statement for the purchase of my new condo, there is a "City of Chicago Transfer Stamps" (… read more
Chris Hardisty
Chris Hardisty
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URGENT..help with taxes on sell of home, will I have to pay
I bought a house last year rounding off $74000,$15000 of that money was bond money for down assistance, I lived in the house for less than a year and sold it for $83000, having to pay back the previou… read more
Jon Andrews
Jon Andrews
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3,038 satisfied customers
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