Questions tagged [capital-gain]
This tag is to be used for any question related to gain due to appreciation of capital. Typcially Capital gains are treated differently based on the geography and hence a country tag should ideally be used with this.
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Investment of Roth IRA Gains and 5-Year Minimum
Upon turning 59.5, one can withdraw gains from a Roth IRA without penalties and taxes if the account has been held for at least 5 years.
Before the 5 years, can the gains be invested in different ...
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Can another tax loss be used to offset capital gains taxes? How does it work?
Firstly, I tried to find the answer to this by reading other questions, but I am still not sure and hence this question.
I read that in the United States, I can deduct up to $3,000 in tax losses. So ...
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Does an inter-spouse transfer of shares reset the "book value"? (in the UK)
If one half of a married couple transfers some shares to the other half, does that somehow "reset" (for capital gains purposes) the "book cost" of those shares, or not?
This might be best illustrated ...
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Is there something equivalent of a 1031 Exchange for the UK
I recently learned that in the US you can defer capital gains on a property sale, and use the capital to buy another without paying taxes using a 1031 exchange.
Is there something similar to that in ...
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Do I pay tax on a gain made from a currency exchange following a house sale in USA
I bought a house in the US in about 2010 and used it as a holiday home for my family (it was never rented out).
In around 2013 I sold the house, which after paying the estate agents fees and leaving ...
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Determining current value for real estate for inheritance purposes
It's my understanding that when someone dies the person who inherits their property has the value of that property reset for capital gains purposes. That is, if the property was purchased for $10,000 ...
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What qualifies for capital losses?
According to this article and this article, pretty much everything I own can be considered a capital asset. According to the IRS here, when property is sold, only investment property can be counted ...
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Capital gains loss, can IRS waive the loss?
I have a capital gains loss of $250K and an IRS debt of $200K, this happened through series of mistakes. I'm currently in non-collectible status. I understand that the IRS has 10 years to collect on ...
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United States capital gains tax for nonresident Citizens?
I'm a United States citizen, however I will be living outside US for the next few years. I still have a US brokerage account. Will I still be charged capital gains tax for trading US stocks with my ...
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If I invest in a company that goes bankrupt, is that a gain or a loss?
This is a real situation, but I will use fake numbers. Let's say I invest $10,000 in an investment trust and my shares eventually appreciate to the point where they are worth $60,000. This is not an ...
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700k capital gain on primary residence sale. How will I be taxed?
I am married and should qualify for the joint 500k exemption for primary residences. Assuming a 100k/year income, my question is if the IRS will consider our income to be 300k or 800k for the year? ...
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How are capital gains reported when one asset is traded for another?
Two assets with values A:$10, B:$100.
Bank account starts with $10.
Buy 1 asset A for $10.
Trade 1 asset A for 1 asset B (great trade!)
Sell 1 asset B for $100.
Obviously the capital gain is $90, ...
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Capital Gains Puzzle
Assume there are two like-kind capital assets: A and B.
Neither A nor B have ever been traded for dollars
or any other currency prior to Day 1, and
hence have no established market value.
...
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Correct way to amend tax return as a result of not correctly reporting gains on sale of private stock based on Installment method?
Background. I owned series A and series B preferred stock in a private company that merged with a public company in 2015 giving rise to large gains.The merger closing date occurred in September 2015 ...
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Meaning of reinvestment
Is it correct that stocks and mutual funds can distribute dividends and capital gains automatically without account holders' intervention, and then reinvest the distributed to buy new shares?
From ...
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Capital Gains on a joint property
I own a property with my sister, she lives in the property and I don't.
We are looking to sell the property and split the value increase.
Would I need to pay capital gains on my half and my sister ...
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How are various types of income taxed differently in the USA?
From Dilip's reply
when you make a withdrawal from your Traditional IRA, no matter which
of your various IRA accounts you take the money from, part of the
money is deemed to be taken from the ...
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What is the relation and difference between capital gain distribution and capital gain?
In US federal tax,
what is the relation and difference between capital gain distribution and capital gain?
For example, the two terms are distinct in the instructions of 1040
Exception 1. You ...
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Capital Gains tax on the sale of my vacant land in Michigan
Good afternoon,
I have a question regarding the Capital Gains tax I will have to pay on the sale on my vacant hunting land I sold in Michigan in 2016.
I owned the property for six years and from ...
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Why would a mutual fund plummet on the same day it pays its annual distribution & capital gains? [duplicate]
Two mutual funds I follow both plummeted on the same day that they paid out their annual dividends and capital gain distributions. (The rest of the year was relatively stable.) The timing seems too ...
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IT Returns for Capital Gains / India
DO I need to file IT returns if capital gains are under the annual limit of Rs. 2.5 lakhs and are the only the source of income? Please advise.
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What taxes do I pay when investing in mutual funds apart from retirement?
I have some extra income that I would like to put into mutual funds, instead of leaving it in a 1% interest savings account (best I could find right now). I'm in the United States.
Some background - ...
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Income tax for Partial redemption of mutual funds - India
I am regularly investing in mutual funds for the past 2 years via SIP.
As I am urgently in need of money I am planning to partially redeem by selling some units. My question is, how income tax is ...
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capital gains tax for non-resident trading German stocks
I come from Hong Kong, a non-German citizen living outside the German and trading German stocks through a U.S. internet broker. Should I have to pay capital gains tax to German government on the money ...
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How do I determine if sale proceeds from an asset are taxable?
So let's say you're a small business and you buy a computer and expense that, and then later you want to sell it to buy a newer one. Is there an easy way to determine how much of this sale is taxable? ...
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Does it make any sense for UK private investors to hold gilts directly and outside of a tax wrapper?
According to my understanding of gilts (which is in accordance with the answers here), private investors in UK gilts paying a premium on the redemption price (for example 2% T20s currently report a ...
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How are taxes tracked on investments which have already had tax paid on them?
I made some investments years ago and took out an amount in 2016 to invest with on my own. Let's say the amount was $1,000 US dollars.
I paid capital gains on this amount which was 15% so of my $1,...
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Stocks taxed just for selling, or just when withdrawing?
I'm humbled by the fact I couldn't find a direct answer to this anywhere so if one exists already just let me know and I'll del this one.
My question is, say you have an Ameritrade (or similiar) ...
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When does it make sense for the money paid for equity to go to the corporation?
Consider this scenario:
While incorporating BigCo, Jack specifies that the number of founding shares is one million. Jack releases a product and sells it under BigCo. The product doesn't bring enough ...
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House sales and capital gains - primary vs secondary
State: Texas
I have two houses. I don't treat them as primary or secondary, they are both occupied. I am keeping them while I can, waiting for the value of one of them to go up sufficiently so I can ...
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Selling house at a profit to buy another house out of state
I am selling my primary at at approximately $170k profit after fees. I'm already under contract for a new primary in another state. However, the new house will close a month or more before my primary ...
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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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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 one-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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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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If I make more in capital gains than I did in my employment, will I owe employment taxes?
If I have a year in which my capital gains are greater than my employment income and the capital gains, when combined with my employment income, would put me in a higher tax bracket than my normal ...
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Should one only pursue a growth investing approach for Roth IRAs
I just opened a Roth IRA and I have been doing some research on what to invest in. I am going to be fairly aggressive considering my age and do a 90/10 stock/bond mix, but I do have one question, ...
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What is the capital gains liability on selling two homes?
Just under two years ago, I moved to California and bought two homes. I lived in one for about 10 months while renovating the second, then moved into the second while renovating the first, also about ...
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Can capital gains or rental income be used for contributing to a retirement account?
If my wife is considered a real estate professional, and she buys a house to flip, can the gain be used to fund a tax retirement account i.e. SEPP or a 401(k)?
Can the rental income from rental houses ...
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How to report multiple currency transactions on T5008 (capital gains)
I have a brokerage account with Questrade and recently had a T5008 issued to me.
On this slip is a listing of my equity purchases and sales along with the capital gain or loss on each transaction.
...
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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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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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S Corp with Straddles Income
I am thinking of using some S-Corp assets to trade futures this year. If this activity were to generate let's say 100K of profit, and the other corporate activities also generate 100K of revenue, are ...
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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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Taxes on capital gains and dividends for non-resident alien
I am a citizen of Spain living in Spain. In the past I lived in the US for over 10 yrs. During the time I lived in the US I opened a brokerage account to trade stocks.
Now I have two options:
Claim ...
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2
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Does Capital Gain tax free amount include other earnings?
So I was looking at the amount of tax free earnings you can get from capital. This scenario is appreciation on a property selling of about £10,000. This, of course, comes (possibly) under the £11,100 ...
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Do you use the Cost Basis or the Amount Invested to compute a gain/loss for tax purposes?
A friend's Edward Jones financial advisor is using the Amount Invested and not the Cost Basis to compute the tax loss of selling a mutual fund.
I don't know anything about this stuff, but I'm pretty ...
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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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Reducing taxable income in US in December
My wife and I have an annual combined income of $258K. Also, this year I ended up selling quite a bit of my ESPP and RSUs which incurs both long term and short term capital gains.
Long term capital ...
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