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Questions tagged [capital-gains-tax]

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

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UK Capital Gains Tax on Property - Deductible costs

Over 16 years ago my mother gifted me £40k from the sale of her home that I agreed to use towards buying a flat in my name for her to live in. There was a proviso to the gift that I was to give my ...
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1answer
122 views

Realize losses and gains at convenient time

Suppose I am long-term invested in some stocks or etfs. Consider the following two situations: 1) stock market is high, my personal income from work is low. Is it a good idea to sell (part of) my ...
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13 views

Opportunity Zone 180 Day Reinvestment Rule With S-Corp Sale

I sold stock in a S-Corp on Jan. 1 2018. I was reading up on the latest guidance from the IRS regarding the 180 days reinvesting cut-off. The regulations say that you have 180 days from the date of ...
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3answers
4k views

Capital gains on stocks sold to take initial investment off the table

Suppose I have invested $100K in a stock that was trading at $100 per share. The stock has gone up by 10 percent and is now at $110. I sold 909 units at $110, i.e. 909*$110 ≈ $100K, which is ...
4
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1answer
158 views

Capital gains on vacant land

My husband inherited vacant land when his mother died in 1990. His parents bought this property in 1946 if that makes any difference. We are selling it and am wondering what we will end up with after ...
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51 views

Should I set up an Irish Private Limited Company to trade US stocks?

I have recently set up a personal account with a broker to trade in US stocks. I've only dealt with small amounts at the moment, but have started to look into the tax situation as my balance begins ...
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0answers
29 views

Is there a 1031 Exchange equivalent in Ireland?

I've recently been looking into buying real estate investments, & I've read about a 1031 Exchange in USA. Here is a definition I've found: Thanks to IRC Section 1031, a properly structured ...
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1answer
101 views

When two valid methods used to determine step-up in value at death for real estate differ, can one freely choose the most advantageous?

I have been told that there are (at least) two methods to determine the value of real estate at death, for cost-basis step-up purposes: (1) the value given by an accredited appraiser (2) the value ...
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1answer
87 views

Do I have to pay tax on Capital Gained on primary property?

I am a Canadian citizen. I have been working in a company in Mississauga Ontario since 2016. Around this timeframe my dad was diagnosed with illness so he added me on to his property in Markham ...
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0answers
42 views

Capital Gains Tax and Main Residence

If I changed my main residence 4 years ago, but did not inform HMRC, then can i register for the dates i actually changed my main residence when i sell my older property, in order to avoid paying more ...
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4answers
1k views

Using dividends to reduce short term capital gains?

Let's say I have $100 in short term capital gains this year. I will need to pay taxes on this gains at the my ordinary tax rate (which we shall assume is 37%). Let's also say there is a stock that ...
3
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1answer
131 views

Capital gains are not taxed if total income is below $77,200. Does “total income” include capital gains, or not?

The tax rate for capital gains is 0% if your total taxable income is below $77,200 (if married filing jointly). But does "total taxable income" include capital gains, or not? For example, suppose my ...
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26 views

Capital gains tax for F1 visa holders?

I am currently on F1 visa and planning to invest in U.S. stocks. Could someone explain how much is the tax on any capital gains? Both long term and short term?
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0answers
130 views

Capital gains tax and HMRC. What is the definition of a lodger and is there a difference between a friend staying a few months and a lodger?

I have two friends living with me and they only pay bills (no rent) and I wondering if I would be liable for CGT on the period they live there? I don't take any rent from them at all and they are ...
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1answer
83 views

Capital Gains Tax - rented my flat at no real profit for a number of years

I have been letting my home to lodgers on and off for a few years to friends for no profit or a considerably lower profit (30% -50% of market value). I don't consider it a business or a money making ...
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1answer
36 views

Capital gains tax calculations - percentages per year of increase or at sale (UK)

Purchased house for £100,000 in 2008 Sold house for £200,000 in 2017 The house was let out entirely for the duration of ownership. My income for 2017 was under the tax free allowance. Now, to ...
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0answers
12 views

How do I use MI-1040D for capital gains/losses in other states?

Say we have a full-year nonresident of Michigan, who has wages of W, attributable to Michigan, and a capital gain of G from selling stocks. Since they are a nonresident, the capital gain should not ...
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0answers
20 views

Need help in recording mutual funds on tax returns [duplicate]

If I record the proceeds and costs of all short term and long term mutual fund transactions, why are there additional capital gain distributions? It seems like double taxation.
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1answer
49 views

Capital Gains and Capital Gain Distributions for a mutual fund

I'm currently working on my tax return for 2018. I have taken my 1099's and calculated short term and long term capital gains and losses for my mutual funds where basis is reported and unreported. ...
3
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0answers
65 views

How can you leverage the benefits of an older spouse's retirement account?

Can a marriage with a large age gap and a young high-earning spouse benefit from, for example, a Roth IRA? Let's say Jack and Jill are married. Jill is 50 and makes $25,000/year while Jack is 25 and ...
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1answer
55 views

How does a US citizen residing in the US file taxes for earnings in an Estonian Company?

As an e-resident of Estonian, I worked for my Estonian company in the US working with US contracts. I earned income (say $100k) that was partially distributed to myself as the sole owner (say $50k ...
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0answers
21 views

Non Resident VA Capital Gains Tax

Can I deduct losses that I have not been able to declare on my federal taxes from the capital gains I received from the sale of an investment property in Virginia Beach? I have owned the property ...
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1answer
48 views

Broker got basis wrong on 1099B

I held some ANDV stock that got bought out by MPC. Terms of the deal were approximately 1.626 shares of MPC per ANDV share, plus $19.80 cash per ANDV share. My 1099B is showing a gain of $1,643.32 (...
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0answers
17 views

Tax on Canadian investments for a Canadian expat in UK

I have never studied accounting before looking for some guidance on my issue. I have investments in Canada that I have to file tax returns for capital gains and dividend income. However my primary ...
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0answers
100 views

Being put on the property deeds of jointly owned house

This is my conundrum. I bought a house 17 years ago with my brother. The problem we have is that I am not on the deeds. We bought the house as an investment property. I was not considered for the ...
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1answer
92 views

Do I not have to pay state tax on capital gains on my stock sales?

I live in NJ and for tax purposes, I am a full year resident of NJ. In the NJwebfile site, I cannot find any option to report capital gains on my stock sales. Also in the instructions, I could not ...
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1answer
34 views

Selling ETFs in Roth IRA fund, in exchange to buy Bonds tax implications

I would like to sell ETFs in my Roth IRA fund, in exchange to buy Bonds. What are the tax implications of this? Even if the money is still held in the Roth IRA fund, would I get taxed?
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1answer
34 views

Statement from investment bank changed after filing - Do I need to amend?

My investment bank, a big one, which we'll call "Bob's Investment Bank" for paranoia reasons, sent me my end of year statement in early February, 2019. My wife and I filed our taxes using the numbers ...
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0answers
51 views

How to calculate capital gain on gold coins in Canada?

In case of purchasing multiple gold coins (assume same kind of coin) on several occasions, for the purpose of capital gains tax calculation upon resale - does one have to calculate adjusted cost base ...
3
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2answers
166 views

Why is it mandatory to depreciate a rental property?

I don't understand why an investor is forced to depreciate a rental property. In many cases (say for an investor with one rental unit only) the depreciation amount is less than the standard deduction ...
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1answer
34 views

Schedule D, what flow to follow if you have no long term transactions but only short term gain?

The instruction for Schedule D form seems a bit ambiguous. On line 17 it says, If both line 15(total long term) and line 16(total long term + short term) are gains, go to line 18(which makes you do ...
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0answers
26 views

Are non-resident aliens (1040N0) allowed to offset stock gains with stock losses? And are they allowed to carryover losses? [duplicate]

I am a non-resident filing tax returns using form 1040NR. I'm really struggling to find an answer to the following questions, maybe someone knows and can help - For 2018 - Are non-resident aliens ...
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0answers
29 views

Capital gain tax on stocks for nonresident alien under USA-German tax treaty

I am trying to understand the tax treaty between USA and Germany but this is a pain. I am in the USA on a student visa and considered to be a nonresident alien for tax purposes. I had some gain from ...
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1answer
65 views

Formula to Calculate FIFO VS LIFO for Financial Instruments

Suppose an individual partakes in some mixture of short term trading and long term investing. Is there a multivariate formula that expresses under what conditions (average/variance of time in a ...
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2answers
163 views

Capital losses from stocks - carryover, and offsetting gains / income for NON-RESIDENT ALIENS

I'm a PhD student filing a tax return for 2018 on 1040NR (non-resident alien) - married filing separately. In 2018 - I had a considerable capital loss (there were no gains). when filling my tax return ...
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0answers
11 views

How is capital gain calculated in India for a house when it is constructed on a piece of land bought few years earlier?

I had bought a piece of land in 2003 and constructed the house in 2005. I am planning to sell now; how is capital gains calculate for this?
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34 views

Taxation of capital gains by USA from cryptocurrency of Russian student on an F-1 visa

I am from Russia and I currently study in the US on F-1 visa. Last year I did some cryptocurrency trading which is taxed as capital gains in the US. US-Russia tax treaty says that: Capital gains on ...
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0answers
28 views

Is there a general requirement to track and report Capital loss in Canada?

A website of a certain bank states in its FAQ for buying/selling precious metals (https://preciousmetals.td.com/shop/en/tdmetals/metal-support): "Q: Are there tax implications if I sell my precious ...
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19 views

Are there any possible complications when calculating capital gain while trading gold ETR, compared to regular ETFs?

In particular, is MNT.TO ETR treated any different from ETFs when calculating ACB? I assume that it pays no dividends, and thus buy/sell would be the only taxable events, or am I missing anything? I ...
3
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2answers
67 views

UK CGT on selling rental property

I bought a property for £235,000 in 2013. I'm hopefully selling the property soon for about £325,000. I lived in the property between 2013-2015. During this period the property grew in value to £300,...
5
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1answer
660 views

Fund Loses Money But 1099-DIV Shows Large Capital Gain Distribution

My Goldman Sachs fund lost over $6,000.00 for 2018, but the Form 1099-DIV shows a total capital gain distribution of over $62,000.00. How can that happen?
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0answers
160 views

Calculating capital gains and cost basis after acquisition

I had Aetna stock that has gone through the CVS acquisition. 87.815 shares of Aetna. Value with final stock price of $212.70 is about $18,678. Cost basis of $2,160. CVS acquisition resulted in ....
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1answer
50 views

Are fluctuations in the exchange rate of a foreign currency taxable for US expats converting such currency to another currency?

I understand that when I make a profit on foreign currency exchanges in excess of $200, I need to pay capital gains to the IRS. However, it isn't entirely clear to me when I am considered to have ...
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0answers
40 views

Holding Period Algorithms and the Blockchain

According to this interview, taxation holding periods in the United States for cryptocurrency can be determined by FIFO (First In First Out), LIFO (Last In First Out), or a more flexible option called ...
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0answers
27 views

Canadian citizen, working for a US-based company in Toronto. How will exercising my stock options work in terms of the IRS and the CRA?

I work for a US-based company, but in their Toronto, Canada offices. On a monthly basis, I receive some amount of stock options in the Private corporation, which is based in the USA. I can exercise ...
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1answer
92 views

Do I need to file tax returns in US if my only income was from capital gains and I am a non-resident who was not in the USA for the tax year?

So I came to the US on F1 Student visa on September 2012 and studied for 2 years. I then worked for 3 years in California on F1 OPT. My F1 visa (along with the OPT) got expired in July 2017 after ...
2
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1answer
171 views

What are the tax implications of renting out my condo if it's worth less than the mortgage?

I own a condo, and its market value is less than what I owe on the mortgage. On the upside, several interesting developments are going in nearby in the next couple of years. Because of some lifestyle ...
2
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2answers
118 views

Shouldn't the rebalancing of an ETF result in profit/loss

My understanding is that an ETF is a basket of a variety of stocks. When that basket is rebalanced and some stocks are sold and others are bought, won't that result in a profit/loss in the same way ...
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1answer
45 views

In general, do you need to make a tax declaration when there is no capital gain? (Europe and USA)

If you make an investment and you haven't made a capital gain (I am thinking specifically in investments not formally classified as such - like cryptocurrency, or any investment which doesn't come ...
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0answers
17 views

Non Resident selling Canadian property tax implications

I understand the Federal Tax implications, but does the Non resident also pay provincial tax in which the property was sold or only federal tax and surcharge.