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Capital Gain Tax. I sold a house and Capital gain was $45k,
Capital Gain Tax. I sold a house and Capital gain was $45k … read more
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I sold my rental house in 2019. I'm calculating Capital Gain
Second opinion] I sold my rental house in 2019. I'm calculating Capital Gain on Form 4797 including : Gross Sale price - depreciation over 4 years I owned it - Cost basis, where Cost Basis includes : … read more
ALEX O
ALEX O
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Hi, I got tax return done except for figuring out how to figure the taxes owed. The total for taxable income is 172,327. (line 10 on 1040). Not sure to use qualified dividends and cap gain worksheet o… read more
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Just want to put my capital gains number in the 1040. Cale
just want to put my capital gains number in the 1040 … read more
Lev
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Married couple owned a rental house several years, sold in
Married couple owned a rental house several years, sold in 2016. (All amounts adjusted to nice, round numbers.) Basis: Original purchase price, $250,00 + Improvements, $5,500 = $255,500. Selling Price… read more
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Expecting an inherited real estate property to sell
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I trying to do my 2014 tax return... I have $18K in capital
I trying to do my 2014 tax return... I have $18K in capital gains distributions. Per the 1040 instructions, I should complete Schedule D. I included the capital distribution amount on Line 13. Im not … read more
Lev
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Need help with capital gains question. Sold my residential
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Tax.appeal.168
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Hi, I am trying to fill out form 4797 for the first time and
Hi, I am trying to fill out form 4797 for the first time and need to know what amount to put in line 20 of part III. I sold this residential property this year, am holding the mortgage, and am reporti… read more
R. Klein, EA
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I have an s corp that publishes websites and earns income from
I have an s corp that publishes websites and earns income from advertising on the sites. Last year I sold a website to a private party. Because the site was not originally build to be sold, I am think… read more
winktax
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This question has two parts.1. I am assuming the tiered
This question has two parts. 1. I am assuming the tiered US income tax brackets are based on 1040 Line 43, Taxable Income. That is, whatever ends up on that line, the margin tax brackets are applied a… read more
William Ellis, CPA
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You say for long term capital gains on stocks, that I would
You say for long term capital gains on stocks, that I would only pay 15% tax. I filled out my Sch D form for 2010 and it tells me to directly enter my gains (Sch D, line 16) to my 1040, line 13 that i… read more
Merlo
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I sold my home last year for 455,000 (purchased in 2002 for
I sold my home last year for 455,000 (purchased in 2002 for 375,000) and had taken home office deductions (7,350) for the past five years. I know the I have to claim the 7,350 as an unrecaptured secti… read more
RD
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If I have a capital gain of $5,000, why does that amount ...
If I have a capital gain of $5,000, why does that amount ($5,000) go on to the Form 1040? When it goes there, it is added along with my wages into my adjusted gross income and therefore it is taxed as… read more
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My 2007 Tax prepared by TurboTax form 6251 line 44 ...
My 2007 Tax prepared by TurboTax form 6251 line 44 shows a figure of 50,394 Can you tell me how this was calculated ??… read more
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I recently sold a large block of stocks (which were held ...
I recently sold a large block of stocks (which were held for over 1 year) and assumed the capital gains would be 15% (according to my tax bracket). I was recently reviewing Schedule D, however...and i… read more
Wayne Brasch
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When I fill out Schedule D for Capital Gain on sale of ...
When I fill out Schedule D for Capital Gain on sale of real estate used for rental investment, it tells me to enter my total on line 13 of Form 1040. It seems to me this means my capital gain will be … read more
Jon Andrews
Jon Andrews
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capital gains taxes on residential rental real estate....
Are long term capital gains on the sale of residential rental real estate taxed 15% in addition to regular income taxes ie.28%, or are the gains taxed on their own? The worksheets are confusing and ma… read more
Jon Andrews
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