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I want to do this to buy more real estate and not get hit with capital gains tax.
My mother had a stroke and can’t communicate with me. I am her conservator and guardian. I must sell a small rental house she owns to help pay the medical bills. I have no idea what she originally paid for the house since my deceased father built it a little at a time and there are no records to be found. How can I figure the capital gains tax on the property?
The company is not listed on any Indian exchange. ESOPs were exercised and sold in the US market. My question is that will it be considered under the capital gains tax ? If yes, then how to decided whether it is short term or long term ? If not, then will be added to the taxable salary and taxed as per prevailing rates ?
Instead of bailout, how about rather than BUYING bad loans we insure them for pennies on the dollar and then do away with capitol gains taxes. If we did away with the capital gains tax, we would see a huge flood of money into the real estate market and we would see a healing in about a quarter like you’ve never seen before. Agree or disagree?
Woo-hoo! The Capital Gains Tax is a tax on ALL profits by EVERYONE. Obama would raise it to 30%, McCain would lower it to 7.5%. Anyone else love this?
I’m worried that if Obama is elected, lots of people will sell off their assets before the doubling of the capital-gains tax takes effect.
And I am worried that this will add on even more financial problems than we already have.
Anyone else worried about this?
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We are starting to get ready to put our house up for sale. We have lived in the house for 7 months. We bought the house for ,000, did ,000 in remodeling work and want to sell it for 0,000. I need to know what I will be looking at as far as the capital gains tax. The house is in Georgia.
1. Is it 30% of the profit if sold within the first year?
2. Can I deduct the cost of the remodeling we did?
3. Does it go down to 15% after the 1st year?
4. Do I have to pay it at closing or can I pay it at the end of the year when I file my income taxes?
I bought my sons house 2 years ago so he could get a better interest rate and now I would like to sell it back to him how does the capital gains tax work?
Specifically, what was the change in maximum rate for capital-gains tax (in the US) during the 1990′s; and what year did it take place?
It is my understanding that there was a substantial change in tax law during the 1990′s that changed the tax rate for capital gains.
What was the change in rate?
And approximately what year did it take place?
Paid off the 265,000 reverse mortgage. Put the balance in a trust bank account. Do we have to pay any capital gains tax?
I would like to sell a second home, and purchase another second home (like-kind purchase), thereby not having to pay capital gains tax. It is possible I may need to sell my primary residence, take the 0,000 exemption for my wife and I, and possibly move into the newly purchased second home, making it our primary residence. Should there be a window of time in between doing this if we have to move and can’t afford two homes? Is this legal? Can it happen? Any help would be greatly appreciated.
I am in the 15% tax bracket for my ordinary income and I made 0,000 worth of capital gains from selling stock. How would I be taxed if these were all short term gains or all long term gains? Does this increase my ordinary income tax rate? Would I still be taxed capital gains tax of 15% short and 0% long or does this large amount affect my regular tax rate?
Thanks
Last year, I started investing in this booming stock market and made some good and bad picks. I sold some stocks at a loss but sold more at a gain. I’m trying to do my own taxes, but don’t really understand this LIFO etc. stuff. I’m looking for a website that discusses the different capital gains tax strategies so I can figure out which one I should use and do my taxes.
Short term capital gains are taxed as regular income.
Why do liberals want to punish investment in America that all of us benefit from?
Why do they think the middle class get no benefits from a lower capital gains tax?
G: so you are saying that middle class people dont have 401k’s etc?
I am in the 15% tax bracket for my ordinary income and I made 0,000 worth of capital gains from selling stock. How would I be taxed if these were all short term gains or all long term gains? Does this increase my ordinary income tax rate? Would I still be taxed capital gains tax of 15% short and 0% long or does this large amount affect my regular tax rate?
Thanks