Capital Gains

Capital gains are profits that from capital assets stocks, bonds or real estate. A capital gains tax can be levied on these profits. Find helpful articles, videos, blog posts and radio shows about capital gains and the types of transactions that involve capital gains.

Tax Implications of Transferring Home Ownership

When transferring home ownership, be aware of the tax implications that could cost you a lot of money. Q: My brother wants to transfer ownership of his home into my name and I need to know what the tax implications …

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Lowering Your Capital Gains Tax: Home Improvements

Making home improvements can lower your capital gains tax, but that may change in 2013. Q: In 1975, my parents built a four bedroom house on Cape Cod and they put my name on the deed with theirs. My parents …

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Selling a Rental home: What Are The Tax Implications?

When selling a rental home, understand the tax implications of selling the rental home and the 1031 exchange rules if you buy a new home. Q: I was wondering if you would be so kind and clarify something for me. …

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Capital Gains Taxes On The Sale Of A Second Home

When you sell a Second Home, you may not get the tax advantages unless the home was an investment property and can defer capital gains. Q: We are considering selling a second home to find another one closer in proximity …

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Capital Gains Tax Primary Residence Exemption For Married Filing Jointly

Capital gains tax primary residency exemption for married homeowners filing jointly. Married homeowners filing jointly should be aware of capital gains tax primary residence exemption before filing taxes April 18. Married homeowners selling their primary residence may be eligible for capital gains tax primary residence exemption for married homeowners filing jointly. IRS Publication 523 includes capital gains tax primary residence exemption for married home sellers filing jointly who sold their primary residence.

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Capital Gains Tax For Married Couples Complicates Home Sale

Capital gains tax complicated for married couples selling second home and third home. Profit off home sale of secondary residences complicates capital gains tax rules for married couple. Capital gains tax for married couples complicates home sale of secondary property. Married couples can exclude $500,000 of profit from sale of primary residence from federal income taxes if homeowners have lived in primary residence two out of the last five years.

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Taxes On Home Sale Can Be Limited With Tax Exclusion For Individuals

Even in this down real estate market, homes are selling. If you have owned your home for some time, you may find that you may have a hefty profit on the sale of your home. If you have a profit, you might expect to pay the IRS taxes on the sale of the home. But those taxes can be limited by the $250,000 exclusion given to individuals and $500,000 exclusion given to married couples on the sale of their principal residence. Certain IRS rules apply to avoid having to pay the tax, so be careful and make sure you qualify.

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Capital Gains Tax On Real Estate Does Not Apply For Most Home Sales and Purchases

Capital gains tax on real estate doesn’t apply to most home sales and purchases. An easy way to determine if you owe taxes on your real estate is to calculate the profit of your home sale. The profit of your home sale is calculated from the cost basis of your real estate. If you’re buying and selling investment property, there are different rules for capital gains tax on real estate and you may need to use a 1031 exchange. Read below for more information on capital gains tax on real estate.

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Capital Gains Tax Changes If Primary Residence Includes Rental Property

Renting out part of your primary residence will change how your capital gains tax is calculated when you later sell. If you didn’t have a rental property as part of your primary residence, you could save taxes on up to $250,000 of profit from the sale, if you’re single. When you have a rental property as part of your primary residence you have to consider what percentage of your property is considered the rental property and your capital gains tax will change. How you use a property affects what kinds of tax deductions you can take and also how much capital gains tax you pay upon sale. You should consult a tax preparer for more advice when you have a rental property as part of your primary residence.

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Calculating Gains On Sale Of Gifted Stock

An investor received stocks as a gift many years ago, and recently sold some off. The gains on the stock will need to be calculated from the day it was received as a gift. If there has been a gain on the stock, taxes will need to be paid on it.

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