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I am trying to figure out how to report a sale of home. Home
I am trying to figure out how to report a sale of home. Home was owned by husband and wife and was placed into a grantor trust. Husband died in Feb. 2019. According to trust document, upon his death, … read more
Lev
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We purchased a house in feb 2016 and refinanced in nov 2016.
We purchased a house in feb 2016 and refinanced in nov 2016. We sold in July 2019 and received a 1099-S. In reporting this, do I use the original purchase amount or the refinance amount? … read more
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If a person died in Nov 2018 but their house sold in Aug
If a person died in Nov 2018 but their house sold in Aug 2019 and it had a "pre possession agreement with the buyer". The agreement specifically said "This is not a rent agreement" because both the bu… read more
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I am doing my taxes. My husband's father passed away in 2018
Hello, I am doing my taxes. My husband's father passed away in 2018 and had a couple of houses to sell. I am aware that there is no inheritance tax unless the estate exceeds 11.2 million. However, my … read more
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I received a little bit of money as the final escrow payment
I received a little bit of money as the final escrow payment in 2019 for a sale that happened in 2018. I reported the sale information as part of my 2018 taxes, so all of that should be taken care of.… read more
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I am working on my taxes using my H&R Tax Cut program. I
I am working on my taxes using my H&R Tax Cut program. I have a quick question. My mother died in 10-2018. She had a "payable upon death deed" recorded prior to her death stating that upon her death, … read more
emc011075
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Sold house in Arizona for $200k in Nov 2019 after paying
Sold house in Arizona for $200k in Nov 2019 after paying mortgage, we had $165 K. We purchased house in TN in Dec 2019 for $150k. What federal and or state tax in either state are we liable for? … read more
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My mother in law sold her mobile home lot in 2018. She owned
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emc011075
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Lev, I sold land for 100k and made settlement Nov. 2018 but
Hi Lev, I sold land for 100k and made settlement Nov. 2018 but did't get the money until Jan. 2019. I have approx. 80K capital gains. How do I report to the IRS. Ty Rose… read more
emc011075
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I sold a home that I owned since 2008. I lived in the home
I sold a home that I owned since 2008. I lived in the home for several years, then moved for work, and rented the home for the past three years before selling. The timeline is:Bought home in Wood Hills, Los Angeles - 7/30/2018 Lived in the home till - 12/31/2014 Moved to San Jose for a new job (Change in employment) - starting 1/2015 Rented home - starting 2/19/2015 Rental Terminated - effective 2/19/2018 Put house on the market to sell - 3/1/2018 (I was not living in the house during this time) Sold Home - 4/24/2018 … read more
taxmanrog
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I sold a primary residence in 2013, it was missed in federal
I sold a primary residence in 2013, it was missed in federal taxes. The house was sold for $575,000, net proceeds were $31,000 after loan was paid off and closing costs. IRS sent a notice they got a 1… read more
Robin D.
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Regarding doing a 1031 exchange in Ca. We have a property in
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I was recently divorced (last September) and we had to sell
I was recently divorced (last September) and we had to sell our house as part of the settlement. The house sold for 390K. We originally purchased it for 145K. We had 110K in capital improvements, thus… read more
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In 2003, my mother-in-law bought a house and put my husbands
In 2003, my mother-in-law bought a house and put my husband's and my brother-in-law's names on the title, rather than her own. In 2011, the house was sold, and my husband recieved 50% of the proceeds.… read more
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My brother and I inherited a house that was appraised at $275,000
My brother and I inherited a house that was appraised at $275,000 at the time of death in 1998 in NYS. We kept the house until Dec 2011 when it was sold for $270,000. After transfer taxes for NYS and … read more
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How do I report income from sale of common warrantes preferred
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bought house in california in 1995. moved back to missouri
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I own a piece of commercial land and business. The property ...
I own a piece of commercial land and business. The property was aquired in 2003. We entered into an escrow in December of 2006. A requirement of the sale was that the property would be held off the ma… read more
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