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I sold a home for 257.900 but after closing costs and
I sold a home for 257.900 but after closing costs and Realitor fees I netted 245,000 do I have to pay taxes I will be purchasing a condo tomorrow with the money … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,209 satisfied customers
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
PDtax
Owner
Master's Degree
4,757 satisfied customers
I'm sure n Calif and recently sold my home. I want to be
I'm sure n Calif and recently sold my home. I want to be liquid to buy another home in Oregon. I have the money in my Chase savings account. Will I be paying calif taxes on that money? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
10,285 satisfied customers
I sold a house that was a rental for a time but was empty
I sold a house that was a rental for a time but was empty for 3 years and prior was lived in by my brother who did not pay me. I paid 130,000 in 2005 and sold it after dividing the lot, for 245,000. I… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
3,864 satisfied customers
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.
Senior Tax Advisor 4
Vocational, Technical or Trade School
17,888 satisfied customers
Question regarding my 2017 federal tax return what can i
Hello Question regarding my 2017 federal tax return what can i deduct from my refinance with cash out for home improvement… read more
Shan-Nel Simmons
Shan-Nel Simmons
Tax Professional/Owner
Master's Degree
44 satisfied customers
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
taxmanrog
Master's Degree
1,783 satisfied customers
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
Financial advisor/Tax preparer
Bachelor's Degree
245 satisfied customers
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
Retired
Bachelor's Degree Equivalent
31,699 satisfied customers
my accountant is out of town, and we are selling our second
my accountant is out of town, and we are selling our second home in maine (purchased in aug 2007, with the intention of relocation). work kept us in nyc and now we are selling. we are closing on monda… read more
RD
RD
Self Employed
Master's Degree
1,129 satisfied customers
I have a personal tax question. I purchased a condominium (owner-occupied)
I have a personal tax question. I purchased a condominium (owner-occupied) in 2008. At the closing, the seller provided me with a credit for closing costs in the amount of $5,000 to pay for closing co… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
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
Self-Employed
Bachelor
418 satisfied customers
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
Mark D
Enrolled Agent
Master's Degree
1,338 satisfied customers
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
MequonCPA
CPA Firm Owner
Master's Degree
2,290 satisfied customers
I sold 1.4 acers of unimproved land for 85,000.00. We live ...
I sold 1.4 acers of unimproved land for 85,000.00. We live in Delaware. Can you give me a ballpark on the capitol gain tax that we will need to pay ?… read more
Guru_Guy
Guru_Guy
Doctoral Degree
1,634 satisfied customers
to ed johnson...since i must pay the capital gains tax on
to ed johnson...since i must pay the capital gains tax on my recently sold real estate, can i add ...all the taxes paid on the lot over the past 17 years as part of the cost of the lot...along with th… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I bought my home for $200,000. It is now appraised for ...
I bought my home for $200,000. It is now appraised for $315,000. I have refinacedand taking out equity, for downpayment on another home; which plan to be my permenant residence. I have a $245,000 mort… read more
Zhicheng Lai
Zhicheng Lai
Master Degree
426 satisfied customers
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
CPA
3,038 satisfied customers
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