Questions related to the tax liability from the appreciation of assets, e.g. stocks, mutual funds, real estate.

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Canadian Citizen and Non Resident for tax purposes

I am a Canadian citizen was a non resident for tax purposes. If I sold stock shares in January 2016 and became officially a Canadian resident again in April 2016 (3 months after selling the stock), ...
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US citizen paying capital gain taxes in Canada on sale of property in US

My son, who is a US citizen living and working Canada. Just sold a piece of property which he inherited in the US. The capital gains was $160,000 and US Federal and State capital gains taxes came to ...
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44 views

Roth-IRA penalty = effectively lowering short term capital gains rate to 10%

Although dubbed a penalty, does a Roth-IRA early withdrawal "penalty" effectively lower the short term capital gains rate to 10% instead of linked to your actual income bracket? As the early ...
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60 views

Capital Gains tax when moving for school

My wife and I purchased our home in August of 2014, but now she has been accepted into a doctoral degree program 200 miles away, so we need to sell the house and move. Unfortunately, we might be ...
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Is there income tax on my on-time sale of my California primary residence?

Bought house in 1998 for $850k, primary residence the whole time, thinking about selling it now for $2.2M Is there Fed or Calif income tax on the profit?
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Home sale capital gains tax under two years

I have lived in my townhouse (primary residence) since July 2015 and have considered selling my house due to the crime in the area picking up. I have considered purchasing a new house in a better area ...
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2answers
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Should I sell/transfer an investment and pay capital gains tax, if it means investing it most wisely?

I married someone with about 100k in an investment portfolio that I do not think aligns with our financial objectives. I want to transfer this to a new joint portfolio (new institution too), but doing ...
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33 views

How to handle capital gains on a Virginia Individual Income Tax Return

I reported capital gains (reported to me on a 1099-DIV) on my 2015 Form 1040A "U.S. Individual Income Tax Return" (line 10.) Using the "Qualified Dividends and Capital Gain Tax Worksheet" on p. 38 of ...
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Can I fully deduct capital losses again discounted capital gains?

I have shares in 2 Australian stocks that I am thinking of selling (at least partially). I am an Australian resident for tax purposes. Let's call these stocks; Stock ABC Stock DEF I have owned ...
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209 views

Bed and Breakfast, Same Day Capital Gains UK

1) What exactly is 'same day` rule, there is much talk about it all over the internet but no one seems to be able to explain what it actually is or how it works. Does it mean If I purchased shares in ...
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74 views

Buying stock options in private company

I have been working at a start-up company for the past 4.5 years in the US. The company is still private. It is not going to go public. The owners are looking to sell once they get a good offer. I ...
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69 views

How much CGT due after moving and renting out primary residence in Australia?

I currently live in my primary residence with an outstanding mortgage, but will be moving out and relocating for work in a few months time. The initial post is for 2 years but may be extended ...
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102 views

Wash sale rule impact on different scenarios between different types of accounts

When wash sale rule kicks in, then the capital loss is simply postponed by increasing cost basis to the later transaction where you again purchased similar replacement stock either 30 days before ...
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68 views

Savings on taxes when selling rental property

I have rental property that I want to sell. The house was built in 1950; it needs major improvement that I am not able to afford. What's the best way to sell the house that would be cost effective for ...
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1answer
36 views

Selling a house with tax-free capital gain when receiving payment years later

I am a resident in the USA and pay taxes in the USA. I have a house in Brazil that I am selling, with profit. AIUI, the profit is tax-free because I have lived more than 2 of the past 5 years in that ...
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1answer
125 views

Good investment for capital gain

With the new UK capital gains tax rate at 20% (since the new budget of Wednesday), and the highest band of dividend rate at 32.5% or 38.1%, I think it makes sense to find investments that do not yield ...
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“Breakeven” point for taxation on short vs long-term stock investments?

Assume that Joe is in the 28% tax bracket. Sale of long-term (greater than 1 year) holdings is therefore federally taxed for Joe at 15%. Joe can either buy and hold for one year (or more) to ...
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Reporting of 1256 Based Options

I live in the United States. In 2015 I have traded several 1256 based options. The details of each trade were not included in my 1099 and not imported into Turbo Tax. I understand that this is to be ...
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Capital gains tax on 1256 based options

If an investor writes a 1256 based option $1000 in January and the option expires worthless in February that is a capital gain. Is it true that, since it is 1256 based, that the capital gains are ...
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230 views

how do capital gains work if you don't know the original purchase price?

So let's say my grandparents bought me 1,000 shares of some stock. They used the wrong address, however, and I never knew about it until after they died. The state got the stock and then, a bunch of ...
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2answers
54 views

Advantages of Tax payments v Withholding for Capital Gains?

I expect to sell my second home this year and make a profit, therefore I will owe Long Term Capital Gains. Putting that into TaxCut software when planning tax for next year it suggests a fairly small ...
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488 views

how do capital gains work if the property that you purchased was modified since it's purchase?

Let's say you purchase 10 acres of land 30 years ago for $10,000 and that 10 years ago the city declared eminent domain on a portion of the land and built a road through it. Now you own two tracts of ...
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55 views

Why Are Percentage Gains Used for Capital Gains Tax Calculations?

In the context of UK investments, I'm led to believe that encashing a general investment account (OEIC/UT) can result in a capital gains tax liability. My understanding is that when calculating this ...
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68 views

Should I sell or keep an ETF with “high” management fees?

I'm in Canada, and I have some RBF557, an ETF whose management fees aren't to my liking. It's an S&P500 index fund. I'd like to sell it, and reinvest the proceeds into another S&P500 index ...
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40 views

Definition of “U.S. source” for US non-resident alien capital gains tax

From here: A flat tax of 30 percent was imposed on U.S. source capital gains in the hands of nonresident alien individuals physically present in the United States for 183 days or more during ...
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216 views

Death and Capital Gains Taxes (United States)

I have a question about taxes and death. If you own stock and you sell it for a profit, you have to pay tax on the profit. Is this same tax applied to someone when they die? I understand that Estate ...
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44 views

Liquid fund and short term capital gain tax

In India, there is long/short term capital gain tax. For debt mutual funds, short term capital gain tax is applied if the fund is redeemed within 3 years and it is equal to investor's income tax slab. ...
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117 views

Do I need to report a capital gain/loss for stock given as a bonus and already taxed?

I'm in the US/New York, preparing to file 2015 federal returns. I was given an incentive bonus by my employer some years ago, in the form of shares of that employer's stock every year for three years ...
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104 views

Transferring proceeds to USA from real estate sale in India

First off, I am an US Citizen currently living in the US. I bought a property in India in 2000, when I was not a US citizen but was still living in the US. Over time it has appreciated and now has ...
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2answers
80 views

Long term drip (dividend reinvestment plan) stock

I sold a Home Depot stock that I will take in cash and deposit into TD amertrade. Is their tax on this? I want to reinvest in mutual funds. We purchased HD over a 15 yr time period in California. I ...
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1answer
93 views

Is there a way to roll over short-term gains and avoid capital gain tax

I'm looking to sell some shares of stock I bought, which have provided a 62% return since I bought them a few months ago and want to roll over the proceeds into a mutual fund. I was just wondering if ...
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61 views

Options tax treatment

Suppose I want to write a covered call on my 100 shares of AAPL that I have held for over a year. If I sell a covered call of AAPL 125 in December 2015 with a June 2016 expiration, and the premium on ...
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133 views

Berkshire Hathaway and Covered Calls

An investor owns several shares (like 2 or 3) of Berkshire Hathaway Class A shares. He sells 5 call contracts on class B shares and then buys them back at a loss. For purposes of taxes, were the calls ...
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Newbie question - Brokerage and selling shares

I work for company X. The stock grants that I have received from my employer which are made available in the charles schwab account. The very basic questions that I have are below:- Charles schwab ...
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1answer
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ESPP stocks taxable in US after moving to US from Singapore

I'm Singapore planning to move to US in 2-3 months. I have some ESPP shares(US Company) that I would like to keep for another year or more. If I sell these shares after moving to US will it be taxed ...
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1answer
83 views

Stock trading from a Cash account, living abroad and United States tax implications

I am an United States Citizen, my 2 children and fiancee are also U.S. citizens. For the entire year of 2015 I will have lived in Mexico, about 2 hours from San Diego. I will pass the IRS's physical ...
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1answer
121 views

How to get capital gain tax of 2014 refunded based on the capital loss of 2015?

In 2014, I had capital gain on sale of rental property and tax was paid accordingly. In 2015, I am anticipating capital loss on stocks. Is there a way to get capital gain tax of 2014 refunded based ...
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150 views

Capital gains is often taxed twice?

This question refers to 1040 tax form for 2015 on http://www.irs.gov/pub/irs-dft/f1040--dft.pdf Am I understanding this correctly?: Capital gains (on line 13) is part of total income (on line 22). ...
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3answers
443 views

Hypothetical: can taxes ever cause a net loss on otherwise-profitable stocks?

Let's imagine a hypothetical situation: I start with $100, and buy 10 shares of a company at $10 each. The next day I sell the 10 shares at $12 each. A week later, the price drops back to $10 and ...
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In India Is the profit earned from investing in SIP for less than five years interest free?

In India Is the profit earned from investing in SIP for less than five years interest free ?
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Bitcoin Cost Basis Purchases

Suppose that a client purchases 10 BTC over a price range of $180 to $290 and transacts twice with his BTC for a total purchase of 2.7BTC. Two questions: Based on this, the IRS taxes bitcoin like ...
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607 views

Do you avoid tax when taking a home equity loan?

Suppose I bought a home for $200k, and 20 years from now its value is $800k and I get a home equity line of credit for x dollars (e.g. to pay for my child's college education). A quick Google search ...
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1answer
189 views

House inheritance tax question

I am a little at a loss. A couple years before my mother-in-law passed away she signed her house over to my wife and her sister via a quitclaim deed. After she passed we sold the house for ...
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1answer
86 views

What are the tax implications of dividends that I receive from stocks (equity) that I hold?

I have purchased some shares in the Bombay Stock Exchange. Its been 6 months and have received some dividend income from them. Does this count towards my total income? Will I have to pay income tax on ...
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112 views

Capital gains tax from selling Canadian property for Canadian non-resident

Case: Capital Gain Tax Implications for House in Toronto, ON Purchase value of House in 2000: $230,000 Potential Sale value in 2015: $650,000 Joint-owners: David & Rebecca, married and both are ...
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1answer
75 views

Can S-Corp loss offset gain?

I made 2 investments via my S-Corp. The first, in apartment buildings which is being sold for a gain, and the second in a hi-tech startup which failed and closed. Can the loss from the startup offset ...
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384 views

Capital gains tax when I sell my home if I use a portion of it for an AirBnB

We live in Virginia. We own a nice-sized home and now that the kids are gone we are living on one floor, except for the laundry room. We are considering renting out the downstairs as an AirBnB space. ...
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Tax Allocation - Business Asset Transfer

I'm selling my sole proprietorship. It is a technology company with few / no tangible assets or customer base, mostly just software. This is being done as an "Asset Transfer" to new owners in another ...
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Transfer of funds

My wife and I have been green card holders since Sept 2012. While we have very small income in India we hold substantial shares gifted by parents, home and some landed property. I have my aged mother ...
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Why does my brokerage show “adjusted due to previous wash sale disallowed loss” when I sold my entire position?

Over a month ago, I wanted to do some tax-loss harvesting. I wanted to sell a fund that had dropped in value and replace it with a more generic fund. Right before I sold, the fund paid out dividends ...