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Related Tax Questions
Own primary residence, single-family home worth roughly $1.1
Own primary residence, single-family home worth roughly $1.1 million; cost $500k. What are the rules/tax implications for a 1031 exchange/postponing capital gain if we sell at $1.1 and i) buy a replac… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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Santa Clara County, California homeowner. Thinking about
Santa Clara County, California homeowner. Thinking about moving and want to understand property tax & capital gains situation. Presume sell existing house for $1 Million. Cost basis $400k Scenario A: … read more
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Barbara
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I own a house in Arizona I've never lived in it. Can I sell
I own a house in Arizona I've never lived in it. Can I sell it and buy a house in Washington state without paying capital gains. … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
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I live in California and I'm trying to better understand the
I live in California and I'm trying to better understand the tax implications (Capital Gains Taxed) if I sell my rental. I've read many articles and think I understand the basics. I understand there i… read more
Lev
Lev
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Bachelor's Degree Equivalent
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Christhoper, I live in Florida and I am selling a property
Hi Christhoper, I live in Florida and I am selling a property in California with an approximate gain of 900K How much taxes will I have to pay ? (State and federal by being a Florida resident.My yearl… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,867 satisfied customers
So here is my scenario. Original Purchase price of my
So here is my scenario. Original Purchase price of my home 350K, Sell Price 450K, Amount owed on Loan = 290K, How so I avoid paying Cap Gains Taxes? I looked at the 1031 Tax Exchange is seems that I c… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
32,048 satisfied customers
I need to understand and know if it is better for me to sell
I need to understand and know if it is better for me to sell my house now or later depending on the depreciation recapture. I bought my home brand new in July 2004 for $163,900. I lived in the home un… read more
Lev
Lev
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Bachelor's Degree Equivalent
32,048 satisfied customers
Dear *****e, Can non-resident aliens (G4 visa holder) use
Dear *****e, Can non-resident aliens (G4 visa holder) use the capital gains associated with the sale of a real estate property for the purpose of a 1033 Exchange within the US? If so, is FIRPTA (i.e. … read more
Anne
Anne
Master Tax Preparer
2,551 satisfied customers
I have a single family house that I have rented to tourists
I have a single family house that I have rented to tourists for many years. It is almost fully depreciated now. I am trying to avoid paying a large tax when I sell the house in a few years. If I move … read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
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If I sell a rental real estate property (condo) for a net profit,
If I sell a rental real estate property (condo) for a net profit, then buy another real estate property (single family house) in a few weeks as a 1031 exchange, rent this new property out to somebody … read more
Lev
Lev
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Bachelor's Degree Equivalent
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we are considering selling a two-family house (we live in one
we are considering selling a two-family house (we live in one half, rent the other half) and buy a single family. We are aware of 500K capital gain exclusion for married couples, but the capital gain … read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,937 satisfied customers
I have a single family colonial home in Connecticut that I
I have a single family colonial home in Connecticut that I have owned and rented out for over 20 years. I bought it for around $80,000 and it is now worth about $380,000. If I do a $1031 exchange and … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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In 1996, my parents bought us (wife and 3 kids) a house in
In 1996, my parents bought us (wife and 3 kids) a house in California. The title and mortgage is in their name and we pay them every month. They have never lived here. The house is considered our hous… read more
Merlo
Merlo
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Hi, My husband is 63 with MS and I am 60. If we sell a ...
Hi, My husband is 63 with MS and I am 60. If we sell a duplex in WA state and use the proceeds to pay off our primary residence in California what kind of tax would we have to pay… read more
Lev
Lev
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Bachelor's Degree Equivalent
32,048 satisfied customers
I just sold my home for $440,000.00 and did not live in it ...
I just sold my home for $440,000.00 and did not live in it for the last 7 years. I am using $325,00.00 of that to buy another home. What will I have to pay in Capital Gains and when do I have to pay i… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
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i will be selling my home for 1.3 ml. I am single. my bases ...
i will be selling my home for 1.3 ml. I am single. my bases in the house in the was 300,000. so I will not pay capital gain on 250,000 plus 300,000. Meantime I have purchase another home for 670,000, … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
32,048 satisfied customers
I am looking to purchase a home from an old family friend.
I am looking to purchase a home from an old family friend. he has been renting the house for ten years and is hesitant to sell as the purchase price was 60,000 in 1977 and about 800,00 now. He does no… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
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I am an american citizen married to an Austrian. We reside ...
I am an american citizen married to an Austrian. We reside in Austria. We own a house in california, which is paid for. (We own for 10 years) We want to sell it next year. What are the taxes consequen… read more
Christopher Phelps
Christopher Phelps
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