We sold a property that qualifies for a $250k capital gains tax exclusion. This property was a home for several years, after which it became a rental property. We have tracked the property's depreciation while we rented it, and we know that up to 25% of this depreciation will be recaptured. The property sold in 2023 and…
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?
It is mostly long-term gains.
I expect to have significant realized gains from crypto in 2025. Can this income be averaged out over more than one year? It is mostly long-term capital gains.
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 modest money market acct. with C. Schwab which has small gains and it is reported to me via a lengthy "1099 COMPOSITE" document. Q: Should any realized gains be reported to the IRS via Form 1099-B and on Form 8949 or just the latter?
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?
I'm considering gifting appreciated stock to a minor child so he can sell it to pay for expenses he has. My confusion stems from what his tax rate would be in this case vs UGMA/UTMA Ideally he'd be able to sell more or less immediately and take the long-term capital gain of 0% because he makes far less than $45k a year,…
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