Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
A client & his partner purchased a home in FL about 10 years
A client & his partner purchased a home in FL about 10 years ago, for their brother that lives and pays for mortgage and all taxes. This home was really to help their brother and his family as they we… read more
Barbara
Barbara
Enrolled Agent, Paralegal
10,317 satisfied customers
I am a builder and I sold a spec house and paid income taxes
I am a builder and I sold a spec house and paid income taxes on the gain. I then bought another lot with the intention of building a spec, but 2008 hit. I am finally able to sell the lot at a -200k lo… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,211 satisfied customers
My daughter-in-law's father died last year. He owned several
My daughter-in-law's father died last year. He owned several houses in town (Boulder, CO). They were in the name of his son, my daughter-in-law's brother. Her father had specified that one house in pa… read more
taxmanrog
taxmanrog
Master's Degree
1,785 satisfied customers
If I have a construction loan used to build a spec house.
If I have a construction loan used to build a spec house. Where on tax form and when would the interest get deducted (year of sale or when incurred?)… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,255 satisfied customers
My father-in-law passed away 2 years ago. His son is buying
My father-in-law passed away 2 years ago. His son is buying his dad's house. He is actually buying out three siblings of their share of the house. He got it appraised and split the amount by 4 and he … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,255 satisfied customers
I am the only owner of an LLC in California. Using my LLC, I
I am the only owner of an LLC in California. Using my LLC, I bought a lot and built a spec home on it. The one spec home was the only spec home I ever built and was the only activity of the LLC. Becau… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,393 satisfied customers
I live in Missouri. My mother in law quit claim deeded her
I live in Missouri. My mother in law quit claim deeded her home to my wife and brother in law about 6 years ago. Mother in law has sold the house and the closing is coming up quickly. The house sold f… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
My wife and brother own a house together. He wants to buy her
My wife and brother own a house together. He wants to buy her share for 275,000.00. We are going to transfer the deed over to him. He has refinanced the home for that amount and will have the funds wi… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I am about to form an LLC with my wife and mother-in-law 3
I am about to form an LLC with my wife and mother-in-law: 3 members. My mother in law is helping to provide capital to purchase a home that my wife and I are living in. The reason for setting up the L… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
40,352 satisfied customers
My wife and brother in law were given as a gift their mothers
My wife and brother in law were given as a gift their mothers house 7 - 8 years ago. No money was exchanged - just a gift of her home to them equally. Both her and her brother had their names on the d… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
Can you put maney back in a decedents estate with no tax consequences
My wife's father died and left 2 properties and some mutual funds. One of the properties remain unsold because of the market. Her brother wants to transfer his share of the unsold property to my wife … read more
RD
RD
Self Employed
Master's Degree
1,129 satisfied customers
- Howell Properties of NC, LLC was formed in 1999 - owned ...
- Howell Properties of NC, LLC was formed in 1999 - owned by 2 brothers (no other owners or investors). - in 1999, 2 farms (54 acres & 70 acres = 124 acres) inherited and owned personally by the broth… read more
Jon Andrews
Jon Andrews
CPA
3,038 satisfied customers
My wifes Grandma has about 350 acres of tillable farm
My wife''s Grandma has about 350 acres of tillable farm land in western Illinois. This land has been in the family for close to 70 years, so not sure of the cost basis, but it is low..Both my wife and… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
My father-in-laws home was transferred to my wife and ...
My father-in-law's home was transferred to my wife and her brother with my father-in-law having a living estate. He has since passed away 5 years after the transfer. We are now contimplating selling t… read more
Matt Kesler
Matt Kesler
Business Owner/Law Student
Doctoral Degree
1,646 satisfied customers
If I form an LLC for the purpose of building and selling
If I form an LLC for the purpose of building and selling spec homes and through that LLC I purchase a vacant lot on June 15, 2006, build a home and then sell the home June 17, 2007, would I have a lon… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
40,352 satisfied customers
If I am building a spec home, purchase of land June 15, ...
If I am building a spec home, purchase of land June 15, 2006, build home, sell it June 17, 2007, Is capital gains taxed at 15%. What if I am an LLC? What if I do a 1031 exchange into another spec proj… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
40,352 satisfied customers
I PURCHASED A VACANT LOT WITH A CONSTRUCTION LOAN ...
I PURCHASED A VACANT LOT WITH A CONSTRUCTION LOAN IN JULY 2004. I JUST FINISHED BUILING A CUSTOM HOME ON THE LOT IN OCTOBER 2005.ONE LOAN PAID OFF THE LOT AND PUT TITLE OF THE LOT IN MY NAME (IN JULY … read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
I am building 2 spec houses this year in a partnership. ...
I am building 2 spec houses this year in a partnership. One will be complete and sold this year and the other will be started this year and sold at the beginning of next year. If my expenses on the fi… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,937 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

261 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

17,888 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,659 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x