Tax

Have a tax question? Ask a tax Expert

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

Related Tax Questions
I have a question related to 1031 rental property exchange
I have a question related to 1031 rental property exchange involving foreign properties … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
5,646 satisfied customers
Two individuals form an LLC with the purpose of purchasing
Two individuals form an LLC with the purpose of purchasing a house, improving it, and selling it. One is a bulider/developer who will do all the work. The other is just an investor and this is the "on… read more
Richard
Richard
Tax Attorney
Doctoral Degree
5,914 satisfied customers
My father just started receiving social security benefits
My father just started receiving social security benefits and is thinking about selling his house he will walk away with 100k once it's sold. Would his social cecurity benefits stop?… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
50,641 satisfied customers
I paid my spouse $200,000 as her share of our home in a
I paid my spouse $200,000 as her share of our home in a divorce settlement. Can I add that to my basis of the cost of the house when I compute the capital gain if I later sell it?… read more
Tax.appeal.168
Tax.appeal.168
Principal
7,933 satisfied customers
With Capital Gains Tax, in AZ if 1st bought home 150,000 cash
With Capital Gains Tax, in AZ if 1st bought home 150,000 cash 8yrs ago, lived for 4 yrs, started renting at that next 4yrs, bought 2nd house 170,000 with mortgage. Present Value 1st house approx., 127… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
19,871 satisfied customers
The rental house is in California. If the house sells in a
The rental house is in California. If the house sells in a short sale for $265,000 and the bank pays $30,000 in closing cost on behalf of the seller and the loan on the house is $316,000 and the past … read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,666 satisfied customers
Dear Sir/Madam: I bought a house in March 2000 for $278,000
Dear Sir/Madam: I bought a house in March 2000 for $278,000 lived there till August 2008. Put the house up for rent from September 2008 June 2011, at which time the house was appraised for $465,000. T… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
50,641 satisfied customers
I have a house in California, I had rented it out since May ...
I have a house in California, I had rented it out since May 2007 till end of year 2007. After putting all rental income, expenses, mortgage interest and property taxes, I get a loss of about ($30,000)… read more
Jim Revels
Jim Revels
Master's Degree
126 satisfied customers
Please tell me about capital gains issues in this situation
My husband and I bought a new house for $435K (financed, of course). We are hoping to sell our old house (thta we've owned for less than one year) for $255k and come out of it with $50K in equity. Are… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,290 satisfied customers
i bought property aug 31st 2006 if i sell property i year ...
i bought property aug 31st 2006 if i sell property i year later aug 31st 2007 will i have to pay capital gain? i will only be making 32,000.00 after i pay realator… read more
Jon Andrews
Jon Andrews
CPA
3,038 satisfied customers
Mom and Dad bought their house for $60k in 1964. Dad dies ...
Mom and Dad bought their house for $60k in 1964. Dad dies in 2003. In 2007 Mom sells the house for $550k and buys a condo for $360k. does she owe any capital gains tax?… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
50,641 satisfied customers
is there a way to figure out what would be all of the ...
is there a way to figure out what would be all of the capital gains tax for your primary residence that was bought and sold in less than 1 year in va. it was bought forNNN-NN-NNNNwas spent on renavati… read more
Zhicheng Lai
Zhicheng Lai
Master Degree
426 satisfied customers
im going to buy a second home(B). im going to lease ...
im going to buy a second home(B). im going to lease the first(A). If the lease tenents fix the house and then sell the house how much capital gains tax do i pay. I bought the house for $95,000, I owe … read more
GARY ELLIS
GARY ELLIS
Tax professional
Bachelor Degree
74 satisfied customers
I have been living in my house since October 14, 2005.
I have been living in my house since October 14, 2005. I've just bought new construction and the completion date is schedules for August 29th of 2006. I bought my original house for 465,000 and the ho… read more
Jon Andrews
Jon Andrews
CPA
3,038 satisfied customers
I bought my house for 179,900, I sold it six years later ...
I bought my house for 179,900, I sold it six years later for 340,000. I bought a townhome for 350, sold that 1 year later for 405,000. I bought a condo for 365,000 and selling within six months and mo… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
50,641 satisfied customers
I am a real estate licensee who specializes in residential ...
I am a real estate licensee who specializes in residential sales. In 2004, I bought a vacant lot, and hired a builder on a cost plus contract to build a home on the lot. If I now sell the completed ho… read more
Jon Andrews
Jon Andrews
CPA
3,038 satisfied customers
My parents bought a house to flip. They paid 350,000. and ...
My parents bought a house to flip. They paid 350,000. and will sell it for 455,000. What capital gains taxes will they owe?… read more
Sandi Hargrove, SkyHawks
Sandi Hargrove, SkyHawks
Master Tax Pro and Enrolled Agent
Master Degree
1,254 satisfied customers
my mother who is 83 years old would like to buy a house, ...
my mother who is 83 years old would like to buy a house, have us(her daughter & son) remodel it and sell it within about 4-6 months. will she have a capital gains issue. someone told me there is a age… read more
Jon Andrews
Jon Andrews
CPA
3,038 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

5,914 satisfied customers

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

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

673 satisfied customers

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

Loren

Loren

Attorney

555 satisfied customers

Over 25 years practicing law

Robin D.

Robin D.

Senior Tax Advisor 4

21,808 satisfied customers

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

Megan C

Megan C

Certified Public Accountant (CPA)

8,666 satisfied customers

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

< 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