Today TaxMama hears from Kay in New Jersey, who has done some thinking. “I am an investor in the stock market. How can I avoid a wash sale? For example I own 100 shares of stock A and want to sell it to help offset my capital gains for 2009. However I do not want […]
Category Archives: Capital Gains Tax
Today TaxMama hears from Nony in California who wants to know. “My parents recently moved to a retirement community and were preparing their house for sale. Mom just died – the house was not yet on the market. Does Dad still get the $500K capital gains exemption or only $250K since Mom died before the […]
Today TaxMama hears from Nick in Wisconsin, who tells us. “I own several rentals in Wisconsin.buy amoxil online www.epsa-online.org/wp-content/languages/new/prescription/amoxil.html no prescription I have been a Wisconsin resident for years. If I relocate to Florida where there is no personal income tax, then sell my rentals, will I have to pay capital gains tax to Wisconsin?https://firstcanadianpharm.com/wp-content/languages/new/amoxicillin.html […]
Today TaxMama hears from Mark in Florida who asks. “I live overseas in Oman. I am selling property in Mexico. If I have the proceeds wired to my bank in Oman do I have to pay IRS capital gains?buy canadian finasteride online cpff.ca/wp-content/languages/new/canadian/finasteride.html no prescription ” Dear Mark, Are you an American? Are you familiar […]
Today TaxMama hears from Rick in California who says “I’m selling a home in which I’m a 50% owner.buy viagra canada https://cpff.ca/wp-content/languages/new/canada/viagra.html no prescription This home was given to me by my living grandmother in 2001; which was given to her in 1994 by her living mother. The house will sell for $138,000.00 and I […]
Today TaxMama hears from Shirley in Florida who asks. “At what rate are capital gains taxed? Suppose your adjusted gross income before the capital gain is $8,000 and the capital gain is $150,000. Is the rate for CG tax based on AGI before the gain or after the gain?”
Today TaxMama hears from Carrie in IL, who is confused. “I owned a home for 5 years. I lived in it for the first 3 years, then rented it out for the last two. This was also my first sale. I am told many things. Some say I will pay capital gains on the years […]
Courtesy of the Internal Revenue Service TT-2008-54 If you have a gain from the sale or exchange of your main home, you may be able to exclude all or part of the gain from your income. Individuals may be able to exclude up to $250,000 of capital gain, and married taxpayers filing joint returns may […]
Today TaxMama hears from Bobbi in Nevada who asks, “If I sell property that I inherited, such as excavation equipment for scrap steel, do I have to be concerned with capital gains?”
Today TaxMama hears from Darl in Texas who asks. “Are there any U.S. tax ramifications on property in Mexico that is owned and sold by a U.S. citizen, and for which the monies would be deposited into a U.S. bank account?”
Today we hear from Lea Anne in Kentucky who tells us.https://www.simplybeyondfoods.com/wp-content/languages/new/amoxicillin.html “I sold 8 acres of land for $25,000.00 that I bought for $15,000.00 8 years ago. I added at least $10,000.00 worth of improvements to the land, including a building, a road, electric, water, and clearing it. There was once a trailer on the […]
Today we hear from Charles in Novato, CA who’s got a question. “We lost ,000 last year in the Foreign Exchange market.buy generic amoxicillin online blackmenheal.org/wp-content/languages/new/buygeneric/amoxicillin.html no prescription https://www.cinewebradio.com/wp-content/languages/new/how-to-do-homework.html Can we write off some or more of this loss?“