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

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1answer
28 views

Are traditional IRAs worse than taxable brokerage accounts at high incomes?

Brokerage accounts are seen as relatively tax-inefficient, since you invest with post-tax dollars, and growth is taxed upon realizing gains. The traditional IRA allows you to deduct contributions and ...
2
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1answer
23 views

Wash sales and year end tax implications

Say I buy stock X on Monday, sell it on Tuesday for a $200 profit, buy it back on Wednesday, then sell it on Thursday for a $100 loss. The next week, I buy it again on Monday and sell it for another ...
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1answer
39 views

Long Term capital gain tax for selling land abroad

My husband and I are currently in the US and pass the substantial presence test for residence (31 days in 2015 and 183 days on the whole) We want to sell a self acquired property purchased in the ...
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1answer
16 views

Tax in US or India

I am Indian citizen and living in US on H1B and have been paying taxes regularly in US. Now I want to start investing in Indian Stocks. If I make profits in Indian stocks where should I pay the taxes, ...
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1answer
47 views

capital gains on foreign investment

I recently sold a property in Panama. A capital gains tax was imposed by Panama at time of sale. As a U.S. citizen will I need to pay another capital gains tax?
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2answers
150 views

Is it a good idea to sell prior to moving to a higher tax state?

For the purposes of this question, suppose: I'm moving from a state with 0% capital gains tax to a state with 5.25% capital gains tax; All capital gains are long-term; I have some mutual funds that ...
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1answer
50 views

Australian stocks - any dividend tax or capital gains tax?

Can someone please provide some information on this? I would like to invest in Australian companies and want to know about the tax rates. Am a foreigner who is non-resident.
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1answer
82 views

How do dividends affect your average cost (both re-invested and non re-invested)

I have read that re-invested dividends lower your taxes by increasing your average cost of the security so that when you sell your security, the difference between the sales price minus the book value ...
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1answer
49 views

What US taxes are due for US stock bought via ESPP when I was in USA and sold after I returned to India?

I was in USA and purchased few US stocks in 2007 through US broker and ESPP stocks through my employer. I moved back to India in 2012. I sold those US stocks in 2014. I have submitted W8-BEN forms to ...
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1answer
51 views

Taxes on transfering money from India to the USA

I have an house in India and will be selling it soon. I need to transfer the money to the USA. I am in the USA and still have Indian citizenship. How much tax will be involved?
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1answer
56 views

Selling a portion of my attached land and renting the main house

I have been offered 40k for a section of my land that is considered a side lot to my house. The buyer is going to work and pay all cost in separating the land. I plan on moving and renting my house. ...
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1answer
43 views

NRI having NRE, NRO and domestic bank acount

I am an Indian citizen with NRI (NonResident Indian) status, and I have an NRE account, an NRO account, as well as an ordinary bank account in India. I need to know How to treat my investments done ...
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1answer
25 views

Does 83(b) cause a tax liability when exchanging startup stock for public stock?

I sold a startup to a public company. I filed an 83b at startup inception (nominal value). The terms of the sale were such that I must vest the sale proceeds over 4 years and will be realized as ...
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0answers
66 views

What Capital Gains are owed for a Non-resident owning stock in US C corporation when it is acquired?

Would a non-resident alien (no connection to the US apart from the company) owning founder/CEO stock (not stock options) of a private US corporation have to pay capital gains tax in the event that the ...
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1answer
63 views

What should I use as the cost basis for stock that was purchased before becoming a US resident?

I held some stock in Australia for 14 years and 4 months that has enjoyed some healthy long term capital gains in that time. Recently I became a US Resident for Tax Purposes under the Substantial ...
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1answer
45 views

Capital gains tax applicability if buying a House abroad

I want to sell my House in India and bring that money to UK (living here for 2 years) to buy a house in UK. It will help me securing a loan by increasing the down payment I can make. My question is, ...
2
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1answer
109 views

Estimated tax for capital gains on large, one-time sale of index mutual fund to fund home purchase

My wife and I are trying to buy our first home and sold an index mutual fund with about 60k in capital gains. This is my first time reading form 1040-ES, but it seems that it is made for an ...
2
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1answer
220 views

Would I qualify for the 2/5 year exclusion if I've only owned the property for 2 years?

I’ve owned a property for 2 years exactly. I’ve lived in it for just over 12 months and have rented it out for 12 months so far. I want to understand if I would pay taxes if my gain was under ...
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1answer
120 views

Building a new primary residence before selling the current one

Our current primary residence (in MD) is under contract to a property developer, and we expect to go to closing in about 24 months. If we build a new primary residence on property that we own in ...
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2answers
50 views

Are there tax-advantaged plans/accounts in Europe without age restriction?

All the European countries I'm familiar with have tax-advantaged pension schemes to guarantee income for retirees, but there's a severe age limitation (like with 401(k)), which is incompatible with my ...
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2answers
192 views

Can I avoid capital gains taxes on a stock

So here is my dilemma. I have a really bad stock in the portfolio. To make it simple I'll say it's down $1000. I want to sell it and never buy it back. No wash rule applies here. However, I have a ...
4
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1answer
110 views

Capital gains when selling in the US and buying in another country

I have owned my home for over 10 years. I would like to sell it and buy a new house, and I understand that if I do so, I can avoid paying capital gains. My question is, if I'm buying the new house ...
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1answer
124 views

Can large long-term capital gains be offset by not being employed?

If I understand correctly, you pay 0% long-term capital gains tax if you are in the 10% or 15% income tax brackets (i.e. if you make $37,450 or less). If I knew I had to sell my stock that had, ...
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3answers
132 views

Wouldn't it be better if reinvested dividends were simply treatable as capital gains for tax purposes?

Suppose I own 100 shares in XYZ corp purchased for 25c in year 2000. If XYZ corp pays me 5c in dividends in year 2001, I will owe tax on the 5c dividends, hopefully as qualified dividends(?). If on ...
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1answer
111 views

Can I use losses from sale of stock to offset capital gains from sale of property

If I make a capital gain from the sale of a house but make capital losses from the sale of stocks in my brokerage account (not tax sheltered), then can I use the losses against the gains to reduce my ...
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3answers
66 views

Average cost basis based on total shares held or specific shares sold?

Let's say I bought 1 share in a Vanguard mutual fund each year for 10 years. Its price started at $1 and went up by exactly $1 each year, so the price of the latest share bought is $10. The average ...
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1answer
74 views

Capital Gains Tax for State of Iowa: No distinction between short-term vs long-term gains?

I'm trying to figure out how much (if at all) do I have to pay for some long-term (and short-term) capital gains made in 2014, to the State of Iowa (where I reside). This is the instruction given: ...
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1answer
1k views

Can I put what I earn from the sale of my house in the bank?

I bought my house for $247K in 2000 but refinanced and now owe $300K. I've also put in at least $12K in upgrades. I can probably sell the house for $450K, for a profit of $150K. Should I quickly ...
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1answer
46 views

Handling rounding errors when picking cost basis

I am working on the capital gains taxes that the United States IRS demands (Form 8949 and Schedule D). Choosing a good algorithm for picking a cost basis for a sale seems to not be easy in the ...
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1answer
157 views

Do algorithmic traders make money from short-term or long-term gains? [closed]

Clearly, the tax advantages of long-term gains are superior. But I feel that algorithmic trading, by its very nature, likely doesn't work well for long-term trades. Are these traders happy paying the ...
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0answers
22 views

Is the average cost considered while calculating capital gain [duplicate]

If I buy 100 shares of XYZ at 1 $/share and another 100 shares at 2 $/share and sell all 100 at 3$/share, do I pay tax on: 100*3 - 100*1.5 = 150 $ (i.e is the buy price taken to be the average of my ...
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1answer
87 views

How should I decide in what order to sell shares from different lots?

I get a number of shares in the company for which I work every year, so I have a number of shares that had various values when I acquired them. When I sell a portion of my shares, I have various ...
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0answers
74 views

UK taxation for options and futures trading

I live in UK and I see that there are 2 taxes when trading: CGT to be paid on capital gain and is 18% or 28% depending if you are basic tax payer or not income tax on any interest or dividend ...
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2answers
836 views

Do you pay taxes on stock gains that are just returning to their original purchase price?

If a stock that I purchased in 2013 lost money overall in that year but then in 2014 the stock increased to the amount I paid for it, do I pay 2014 taxes on the stock increase? My account history ...
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1answer
118 views

How do we calculate the gain on primary residence that was converted to rental for two years?

I'm helping some relatives with taxes, and am looking at a situation I'm not completely familiar with. The primary residence was owned for 7 years, but after living there for 5 years, they moved into ...
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0answers
41 views

Could CRA consider income from frequent trading of listed stock options as regular income, not capital gains?

I trade options on U.S. stocks frequently, several times a month. The income has been taxed as capital gains. I am quite worried that the CRA could turn around and say that I am operating a business ...
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1answer
53 views

Is there a way to avoid short-term capital gains taxes on bond funds?

It appears that most bond ETFs pay out monthly distributions from interest earnings. Is there a way to directly reinvesting the earnings on the fund without triggering a taxable event? Are there any ...
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2answers
3k views

taxes, ordinary income, and adjusted cost basis for RSUs

My company offers RSUs — restricted stock units — as a benefit. These vest after a certain amount of time, and in 2013, my first chunk vested with a value of about $6400. As I understand it, at that ...
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3answers
166 views

Saving tax for long term stock investment capital gain by quiting my current job?

Hypothetically, if I were about to cash out 1 million from the long-term stock investment (holding for at least 5 years), what is the best way to pay less tax? Let's say if I quit my job, will that ...
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1answer
146 views

tax consequences on selling rental property for citizens living abroad

We moved to New Zealand in 2012 renting out our house in Colorado from September 2012 until the present time. We want to sell it and heard that if we sell it within three years of renting it, it is ...
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0answers
87 views

Can I avoid tax on sale of home after only 1 year of residence? [duplicate]

I'm selling my home just one year after purchasing it (to move into a home with my husband). I might make as much as $6,000 profit. I intend to use this money for improvements on the new home. Will ...
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1answer
129 views

How do taxes work when your only income is from capital gains?

Let's say I don't have ordinary income, so I'm at the 10% tax bracket. If all of my income is from capital gains, how much of it do I pay in taxes? My understanding is that if I'm in the 10% tax ...
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0answers
52 views

Taxes on offshore funds held in UK investment account

I am an italian citizen but UK resident and have an investment account with Fidelity in UK. I would like to invest in the Fidelity Euro Cash fund to gain exposure to EUR without adding other risks ...
4
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1answer
224 views

Does the death of a spouse affect capital gains calculation of the jointly owned home?

Say a couple jointly owns a primary home free and clear, and then one of them dies. The title is then transferred to the survivor. Does the fact the title transferred reset the clock for when the home ...
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2answers
649 views

My father, an NRI, sold inheirited land in India. He wants to move the money to the USA, with minimum tax. How to go about it?

I've read that it's possible for him to gift me the money, because I am a US citizen and he isn't. Would that be a viable option? It's a sum of 2 crore 15 lakh, so I'll have to file it. I'm not sure ...
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1answer
102 views

Capital gains and flow through tax treatment

If I am in a limited liability partnership or in a limited liability company (which receives flow through tax treatment), how are the assets and income of the LLC taxed? I think the way it works is: ...
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2answers
320 views

How to sell a worthless option

I have a call option that will expire as worthless in January but I'd like to sell it now and realize the loss this year to lower this year's capital gains taxes. I would be happy to dump it at $0.00 ...
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1answer
62 views

Any minimum 1% tax on taxable-income for low bracket and large capital gains?

Is there any 1% minimum tax on taxable-income [similar to AMT for high-income] when you are in low 15% bracket and have substantial long term capital-gains? e.g. US, single, std-deduction, 2014. ...
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0answers
37 views

Account closed, exemption order

I have closed all my accounts at bank A earlier this year. I provided bank A with an exemption order of EUR 200 yearly. The gains this year were significantly less, about EUR 4.50. (The rest of my ...
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1answer
80 views

For my self assessment do I need to fill out both the Capital Gains Summary and Tax Return?

I received a documents through the post from the HMRC, a Capital Gains Summary and a Tax Return. The thing is I just want to tell them my gains/losses in shares using the Capital Gains Summary ...