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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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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 ...
1
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1answer
43 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
38 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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11 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.
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3answers
132 views

Why is VTI a wash sale, but VV is not?

Here is my Fidelity YTD tax report on short-term losses. Why does it show a wash sale disallowed loss for the VTI holding, but not for the VV holding? 2018 YTD ST Losses
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2answers
99 views

Can a state assess a capital gains tax on a sale of property owned by a non-resident?

If I own property in Massachusetts, but am not a resident of Massachusetts, and I sell that property at a profit, does the Massachusetts capital gains tax apply to my sale?
2
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1answer
71 views

How does the “wash sale” rule work while selling for long term capital gains?

Lets take the following example to understand my question. I bought 100 stocks of company ABC at a price of $10 per stock on 1st May 2017. On Dec 1st 2018, I buy 100 stocks of the same company (ABC) ...
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1answer
79 views

Is a business buyer ever responsible for the seller's taxes?

Bert and Ernie are both 50% shareholders in their small business. Ernie is losing passion and interest in the business, and is going to cut ties and explore other opportunities. Ernie and has agreed ...
3
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1answer
44 views

Can a beneficiary take the tax liability for an unqualified withdrawal from a 529? (not the account holder)

Say there is a 529 account with $30K in it. It is owned by "account holder" who is in the 20% capital gains tax bracket. The "beneficiary" of the 529 is no longer going to school, is not disabled, ...
2
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1answer
59 views

Defer capital gains tax

I exercised options and sold the stock from the exercise after owning the stock for a very short period - much less than a year. I will now owe short term capital gains on my 2018 return. Before 2018 ...
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2answers
91 views

Minimizing tax liability from real estate sale

I bought an investment property in the United States for $20k in 2005, got a $100k refi loan on it in 2007 and sold the property for $100k in 2018. When I sold the property in 2018, I owed about $80k ...
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0answers
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Advice for finding a qualified accountant for grad student & real estate tax and financial planning

I'm a bit worried about getting bad tax advice this year for a number of reasons. I just started a PhD program this fall, which meant a number of big changes for me: I had to sell my house and move ...
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2answers
71 views

What is the ROI effect of switching mutual funds in a taxable account?

Assuming I'm paying long term capital gains tax, what is the break even point where it is more worthwhile to switch from one fund to another? For (a hypothetical) example, if I have a fund with an ...
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3answers
143 views

Is the wash sale rule canceled by something if you don't hold the stock in question for 30 days?

Suppose an inverstor in USA buys 100 shares in XYZ for $50 each. Two weeks later XYZ is doing terribly, and the investor gets cold feet and sells the shares for $40 each, at a total loss of $1000. ...
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2answers
143 views

Can you explain how this disallowed wash sale loss is calculated?

I can see that the first row of the data shows $120.00 in cost and $76.93 in proceeds, which results a -$43.07 gain. With only this set of trades, how is it determined that $43.07 is the wash sale ...
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2answers
56 views

How are deductions divided between ordinary income and long term capital gains?

The question applies to the US federal income tax for tax year 2018. To make things concrete, let's suppose I have $50k in ordinary income and $50k in long term capital gains. I plan to use the ...
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4answers
187 views

Flash Boys: “That was the tax”

I am reading Flash Boys by Michael Lewis, and I am very confused by one passage. On page 52 in my copy, they mentioned that their investment let them escape taxes. I am utterly confused how that ...
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1answer
37 views

Is there a capital gains tax on a real property sale if I don't live in Canada and have a low income?

I am preparing to sell 3.4 acres in Nova Scotia. I am a Canadian citizen living in Michigan USA. The attorney for the buyer says I will have to hire a $500 accountant to figure what tax I must pay. ...
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3answers
92 views

Tax-Gains Harvesting: which shares to sell

My annual income this year is low enough to take advantage of gains harvesting on some long-term stock share profits to reset the cost basis for a portion of my overall holdings. The share amounts ...
2
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1answer
101 views

Capital Gains Tax allowance sharing for married couples

A husband owns a flat (mortgaged). He is selling it after marrying earlier in the year. Some capital gains tax will be payable as he no longer lives there - the couple moved into a larger place ...
2
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2answers
155 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 ...
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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 ...
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0answers
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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?
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3answers
84 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 ...
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1answer
81 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 ...
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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 ...
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1answer
29 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 ...
2
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1answer
44 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?
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1answer
107 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
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0answers
17 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
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1answer
224 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 $...
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1answer
81 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? ...
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2answers
79 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 ...
2
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1answer
105 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 ...
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1answer
96 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, ...
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1answer
129 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 ...
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1answer
85 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. ...
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1answer
77 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 ...
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0answers
38 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
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0answers
84 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 ...
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0answers
59 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 ...
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34 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 ...
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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 ...
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1answer
139 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 ...
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1answer
61 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 (...
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1answer
62 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 $...
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1answer
24 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 ...
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0answers
36 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. ...
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1answer
103 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 ...
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2answers
135 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 ...