We bought a new home in October 2022 and sold the old home in February 2023. We used our exemption to avoid capital gains tax for our 2023 taxes. When would we be able to claim exemption on any capital gains tax on real estate again?
I'm a Michigan resident and sold an inherited rental property in New York in 2024. I'm almost positive I have entered everything correctly across my Fed 1040, Sch E, 4797, etc. and non-resident New York return with everything allocated to NY. I'm an active participant, but definitely not a real estate professional so no…
My brother and I inherited a house from my Dad 18 years ago. We are finally selling it. Do we have to pay federal income tax on the proceeds. How about California tax (where the house is located or New Mexico tax (where I live)?
My mom sold her primary home (in NV) this year. I jointly owned this house with her (from original deed, over 20 years ago), but it was her primary and not mine (I live in a different state). The capital gains was <$250k. She obviously doesn't have to pay CG since it's her primary home. But do I?
I live in Ohio and sold inherited property that I have had for 12 years. I made improvements and sold it for much more than the price it was valued at. I tore down an old house and sold just cleared land. Will I have to pay capital gains tax? If so, how can I reduce the taxes owed?
I am selling half of raw pasture land that I have inherited. Would it be a short or long-term capital gains tax?
I have a home that I've lived in for many years. My income is just below the income level to pay capital Gains. Will I still have pay the Tax?
My ex husband and I were joint tenants on a home we owned together. I moved out but he stayed and lived in the house continuously until it was sold last summer. Am I also except from the capital gains even though I didn't live there. We never rented the house and he was a resident the entire time it was owned
I sold an old house and bought a new house in 2024. Do I need a special version of Taxact to file?
If I sell my home and don't put all the proceeds toward the purchase of another home are the unused proceeds taxable?
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