Questions related to the tax liability from the appreciation of assets, e.g. stocks, mutual funds, real estate.
2
votes
2answers
138 views
Capital gains when selling property
My parents bought a condo in 2005 for $75,000 and rented it out through 2015. I got married in March 2016 and moved in. I paid the HOA and property taxes to my parents.
My parents gifted this ...
18
votes
2answers
5k views
Can you gift someone money for purpose of investing to avoid capital gains upon inheritance?
After reading through information on capital gains tax and estate tax, I read that a heir of an investment does not have to pay capital gains on that investment. That is it's transferred free and ...
-1
votes
0answers
29 views
Capital gain offsetting strategy - stocks [duplicate]
One of my investments has done quite well, well enough that it now comprises a high enough % of my account that despite its continued good and stable performance I feel the need to re-balance so my ...
2
votes
0answers
63 views
I am Canadian and own a cottage in the US. I want to gift it to my 2 Canadian children. What are the tax implications
I own a cottage in Point Roberts Wash. I am a resident of Canada and want to gift it to my son who is also Canadian, What taxes apply to this transaction?
0
votes
3answers
82 views
Taxation on withdraw of basis on profitable stock
I have a stock which I paid $3,000 for and it has accumulated another $3,500 in profit. If I ONLY withdraw my original basis of $3,000 will this be taxed as a capital gain? I feel like it wouldn't be ...
4
votes
1answer
45 views
Can I convert fund ACC units to INC units without triggering a CGT event?
I have acquired (via a legacy) some fund accumulation ("ACC") units outside of a SIPP or ISA wrapper. I'd like to convert them to income yielding ("INC") units in the same fund. There are now ...
15
votes
2answers
2k views
If I sell shares in the US, will I be liable to pay taxes in US?
I am a South African citizen living in South Africa who works for a large US company. As part of my compensation, I receive restricted stock units (RSUs) which my country considers to be part of my ...
1
vote
1answer
26 views
ANDV/MRO merger options
In the ANDV/MRO merger, ANDV shareholders can request MRO shares, cash, or a blend of both. What are the cap gains implications? I'm thinking that exchange of ANDV to MRO shares would trigger no cap ...
1
vote
0answers
13 views
Capital gains for Canada non-resident aliens in USA over 183 days (Canada USA Tax Treaty)
I am a Canadian non-resident alien in the USA. I have stayed over 183 days in one year (a J-1 scholar, exempt from substantial presence test). I have capital gains from the sale of US-listed stocks &...
2
votes
1answer
41 views
Inheritance Tax on money received abroad
I am a dual UK and Bangladeshi citizen who recently inherited money from my father in Bangladesh. I want to bring the money over to purchase a flat in the UK. Would i be liable to inheritance tax?
1
vote
1answer
71 views
Do I have to pay capital gain taxes in 2019 in this case?
Let's say that I bought a stock in August 2018 and sell it in February 2019 for a profit, do I have to pay capital gain taxes for this stock when I file my taxes in 2019?
The reason I asked is ...
2
votes
0answers
16 views
Tax Basis and Bargain Element for Incentive Stock Option on Foreign Stock Exchange
The US company I work for recently went public, however the powers that be chose to do the IPO on the Australian Stock Exchange (ASX). I am based in the United States.
My stock option strike price ...
1
vote
1answer
216 views
What is the best way of minimizing a 10K capital loss?
First, thanks for the help!
I recently sold a stock at a loss of $10,000 (I guess a capital gains loss).
My question is how should I minimize my losses?
If I have another stock for which I have a $...
1
vote
1answer
39 views
Wash Sale Treatment Using Different Tax Advantaged Accounts [duplicate]
As a follow-up to this question:
Wash sale rule impact on different scenarios between different types of accounts
Do HSAs and 401k's fall under the same treatment as IRAs when computing tax losses?
...
0
votes
0answers
51 views
Purchasing a stock while being a NON RESIDENT ALIEN, and selling it when I'm already a resident, how much tax do I pay?
First, thanks for the help!
I am a phd student in the US who is filing yearly tax returns as a NON-RESIDENT ALIEN.
As I understand, after 5 years usually, I start filing tax return as a RESIDENT ...
3
votes
2answers
74 views
estimated IRS tax payments
We sold some U.S. government Savings bonds in June of 2018 that had a gain in interest of double our yearly income. A one time sale. Now, I'm thinking that I will owe quite a bit in taxes and I'm ...
1
vote
1answer
96 views
how to compute holding period on real estate
For the purposes of computing long term versus short term capital gains tax treatment, when does the holding period for real estate end?
I can think of several options:
At execution of the purchase ...
-1
votes
1answer
92 views
Tax free savings account
I know that this type of account does not exist in the US. For those who know, is there absolutely no tax deducted from my earnings when I invest in stocks? For example, if I turn 10000 to 1 million, ...
1
vote
1answer
79 views
LIFO versus FIFO for selling RSU
I have RSU's vesting from my company periodically in USA. I would like to sell them to diversify in an index fund. How do I choose between LIFO and FIFO for the maximum resultant cash?
FIFO
First in ...
1
vote
1answer
80 views
Will an international student owe capital gain taxes upon selling the property if they didn't live there for 4 years?
I am trying to figure out the Capital Gain taxes on a property in Toronto. I am very new to this, so sorry if I say something weird.
I live in a condo, which I own, and I am thinking of renting it.
...
1
vote
1answer
58 views
Sale of a home in Thailand and Repatriating Funds to US
My wife and I purchased a home in Thailand 5 years ago and we lived in it for about 40 months. The property was purchased in my wife's name since I am unable to own land in Thailand.
We Purchased ...
0
votes
0answers
34 views
Calculating capital gains tax on the sale of a house
How does the CRA calculate capital gains tax when a house is sold in Canada and if the sale makes a loss are the proceeds of the sale held back until the next tax year? Thanks
4
votes
0answers
81 views
How to avoid Kiddie Tax on UTMA account with bad fees
My father-in-law opened a mutual fund UTMA for my two kids when they were little and has made periodic contributions over the years. They're high school and college now. Each account has about $10k in ...
2
votes
0answers
57 views
Selling a portion of a co-op and taking full 250k deduction?
I an single and own a 3-bedroom 2-floor co-op in NYC... the result of a combination of two units.
If I separate the duplex into two separate units and sell one (while keeping the other as my primary ...
0
votes
0answers
33 views
Latvian Social Security Contributions on Equity based Capital Gains
Per LIAA Taxation, SSC contributions are made per gross salary of an employee by both the employee and the employer.
SOCIAL SECURITY CONTRIBUTIONS (SOCIAL TAX)
The employer deducts 10.5 % from ...
1
vote
0answers
16 views
Non-resident alien with closer connection to another country capital gains taxes
I am selling my U.S. vacation home and will have a capital gain of approx. $85,000. Are there any exemptions available to reduce this amount before it is subject to the 15% tax rate? I do not ...
1
vote
1answer
138 views
Question about taxes on stock in the USA
I bought 1000 of stock A at price of 20. Two hours later, the stock price for A went down to 17, and I bought 1000 more of them, and two hours later, the stock price reached 19, and I sold all 2000 ...
1
vote
1answer
57 views
capital gains tax on fungible assets in the united states (long term rate vs. short term rate) [closed]
I bought 1 unit of asset A in year 1
Then I bought a 1 more unit of asset A in year 2
Later in year 2 I sold 1 unit of asset A.
Asset A is fungible.
Can I use the long term capitals gains tax rate (...
1
vote
1answer
60 views
How do capital gains tax work on a property where you finance the buyer?
I have a second property (home) which, due to tax law changes, I will now owe income tax on gains if I sell.
But how does this work if I finance the sale? Suppose the hypothetical sale price was $...
0
votes
1answer
23 views
How to consider capital assets in DCF analysis?
I'm calculating an enterprise value with the DCF analysis.
In DCF I consider revenues - costs, and I also discount reinvestments. These reinvestments are to get more capital. How can I take into ...
0
votes
0answers
31 views
In Spain, is income from mortgage interest considered income or capital gains?
I'm advising someone who is a tax resident of Spain interest in providing a mortgage to someone in the U.S., and trying to get an idea of how the interest from this mortgage would be taxed there.
...
7
votes
1answer
99 views
Investing proceeds from foreign vacation home sale
We bought a vacation home in the UK in 2006 for 182000 pounds, including purchase price, closing costs and improvements, when the pound was stronger ($1.8/pound), and wired $327000 directly to the UK ...
1
vote
2answers
118 views
Unexpected cash - pay off debts or buy home (to reduce child support expense)?
There are quite a few people who seem to handle personal budgeting questions, so I'll ask here, as my situation recently changed.
I am a recently divorced father of 3, and was ordered to pay child ...
0
votes
1answer
119 views
How to file and pay income tax for ITR2 in India? What is the order?
I have following incomes
Salary
Interest income from fixed deposits
Short term capital gains from sale of equity stocks
Long term capital gains from sale of debt mutual fund
Searching for it leads ...
13
votes
1answer
2k views
How can you minimize taxes on cryptocurrency trading?
I bought one Ethereum last year for around $350 and ended up selling it early this year for around $1350.
From what I'm reading, capital gains will be close to 40% on the $1000 I made.
Is there a ...
2
votes
3answers
156 views
At what time do you have to pay capital gains taxes in the US to avoid any penalties?
Let's say someone just sold some stock and their total gains on that stock were $5,000. At what time do they have to cut the U.S. government a check to pay the taxes on this gain?
Let me clarify: I'...
1
vote
0answers
47 views
Primary lost value, turned rental, regained some, then sells. Capital Gains?
Bought house in 2006 at $200k
Became rental in 2011: Similar homes selling for $120k
Ready to sell in 2018, expecting $170k
I have not taken any depreciation (maybe I should have, but that is another ...
1
vote
1answer
88 views
How do transaction and transfer fees affect the ACB of cryptocurrency assets?
Currently cryptocurrencies are taxed as capital assets in Canada, which uses the ACB when calculating capital gains and losses.
I understand how to calculate ACB adjustments when buying and selling ...
3
votes
0answers
27 views
Incentive stock options, tax lots, and long-term capital gains
I have shares of a company I got from exercising before the company went public. Some shares I've held for less than a year, some for more. I exercised all the options after holding them for a year.
...
1
vote
1answer
83 views
I am Indian Resident, and would like to gift my daughter who is PIO as well as US Citizen now
I am Indian Resident, and would like to gift my daughter who is PIO as well as US Citizen now. Pl answer following queries :
Will gift tax be applicable in such case to donor (per Indian law)
and/...
4
votes
1answer
77 views
How US government bonds with different face interest rates would be taxed?
The 5 year interest rates in the last 2 years have gone up from 1% to 2.8%. So, in secondary market there are US government bonds with 1.5% and 2.75% face coupons.
What I am trying to understand is - ...
1
vote
1answer
40 views
Tax Free Exclusion (Capital Gain)
I have question regarding to capital gain tax to a sale of a townhouse in WA State. I just want to see if any of you can provide some advise. Thanks!
home purchase in 2008 for 385k and was primary ...
0
votes
2answers
94 views
Tax Avoidance: Mixing gains and losses in the same tax year?
I am currently looking at liquidating some of my investments and trying to decide which ones to sell, to cover some cash expenditures I will have. For the matter of this question, let's say I need $10,...
0
votes
1answer
28 views
1031 Exchange - Single Family residential - duplex
Is it possible to a use a 1031 exchange to go from a single family residential to duplex where one side is rented the other is lived in?
3
votes
0answers
92 views
Capital Gains Taxes for multi-year vest RSUs UK
Assume that you work for a company in the UK that grants you a number of RSUs to vest in a multi-year schedule (as per usual), for example, a vest event every 6 months for 2 years. The RSUs are valued ...
1
vote
1answer
47 views
Rental property capital gains
I have a rental property that was my residence for 1 year and 10 months before it was converted to a rental. I am approaching 5 years since I bought the house.
Am I doomed to pay capital gains if I ...
4
votes
1answer
66 views
What is the cost basis when selling shares received as part of an acquisition?
If I vested 100 options in StartupCo at a strike of $1 and I exercise then I will have paid $100 for those shares of StartupCo.
If BigCorp acquires StartupCo and I receive $5 and .25 shares in ...
1
vote
0answers
17 views
Capital Gains tax on Spanish Stock US Resident
I have two questions, I think the first will be simpler.
If buy an ADR stock in say Santander or Telefonica do I have pay Spanish capital gains on the stock and file a spanish tax return when I sell ...
1
vote
2answers
40 views
Filing a 1040 after filing 1040 ES
I'm trying to plan my taxes for 2018 (note, I have already filed taxes for 2017). I have about $5K of short term capital gains that have not had any tax withholding during the time Jan 1, 2018 - Mar ...
1
vote
1answer
31 views
Tax bracket for vested RSU
I sold some RSUs once they were vested. I see in the Merrill Lynch statement that a certain amount of shares were taken out to cover the taxes. The federal tax is taken @ 25%.
Now, when I calculate ...
