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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How can I take a $250,000 capital gains tax exemption on a land sale adjacent to my RENTAL house property?
This is a narrower question than a question about the sale of land adjacent to a PRIMARY residence.
Can I take the $250,000 tax exemption on the sale of my land adjacent to my rental property (not my ...
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UK resident selling a house in Italy
I purchased a house in Italy for €250,000 in 2014. At the time, I was a student in the UK, and I didn't officially transfer my residency to the UK. I now (2023) work and live in the UK (and I've been ...
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What is the date of acquisition for the purpose of declaring capital gains on sale of property (publicly traded stock) ? (Canada)
I have capital gains and losses to report on my Canadian tax return to the CRA (I'm an individual, not a corporation). My tax-filing software (Ufile) is trying to help me generate form 5000-S3 (...
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Can I combine lines on my 1099-B if the basis and dates are the same?
Suppose I have multiple 1099s, and there are several transactions with the same basis per share, proceeds per share, acquisition date, and disposition date. Can I combine them on form 8949?
For ...
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Wash Sale Basis Adjustment When There Are More Replacement Shares
Consider the following scenario:
On Jan 1 I bought 10 shares of XYZ for $10 each on Jan 1, and sold them for $8 each on Jan 2, resulting in a loss of $20 ($2/share)
On Jan 10 (less than 30 days ...
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better understanding wash sale rule
This is for USA tax purposes.
I find wash sale rule simultaneously a simple and complicated concept. I kind of understand overall idea, but miss the details. Surprisingly, I couldn't find many ...
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When does tax have to paid with EMI share options?
I have vested share options in a small company because I joined when it was an early stage start up. The options are in an EMI (Employee Management Incentive) scheme. The company is not planning to ...
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Selling property abroad and transferring the money in the UK
I am a UK citizen and there is a property in Greece that my family wants to sell. It is an old property which I (and three more family members) inherited and paid taxes normally. The facts:
The ...
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Do RSU / ESPP Sales Go On Form 8949 As Capital Gains And Losses?
I have a series of RSU + ESPP sales within the past calendar year. All RSU and ESPP that have vested and been awarded have been reported as ordinary income via a W2. My company uses ETrade for ...
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Best Way To Pay Taxes on Dividends and Capital Gains?
My dividends and capital gains are now a large enough percentage of my total annual income to be a tax burden and require advance tax planning, so what's the best way to pay the additional tax due:
a) ...
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How to make estmated tax payments on ESPP/RSU?
I am selling some ESPP and RSU shares via Etrade. In the past, I ran into issues because Etrade did not withhold any taxes from the sale and at the end of the year, when it was time to file my taxes, ...
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How to calculate tax deduction for first year of opening an LLC when funding it from your salary?
I need help understanding how it works when one opens an LLC in the United States, funds its activity from a job he or she does. For example the individual earns 200,000 dollars in a day job and pays ...
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Calculating Capital Gains for Real Estate
Here is a question using hypothetical amounts when understanding the amount considered capital gain when selling real estate before two years. I want to understand, is the number I am calling capital ...
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Is there any reason to not put money into a stocks and shares ISA over a regular investing account?
I have a small amount of money in a regular investment account however I am considering putting more in.
The UK tax-free dividend allowance is £2,000, although will reduce to £1,000 in the new ...
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Capital gains tax from selling home at divorce
My husband and I separated almost three years ago and are finally getting a divorce and selling the home we bought together in 2017. He has lived there continuously while we were separated, but I ...
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What time period determines the long-term capital gains tax for foreign individuals in Canada?
Let's say I am either a resident of the US or Mexico. If I have a stock I have held for more than 12 months while abroad, and then sell it within the first week of my arrival in Canada, would it be ...
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Tax deductions for a rental property, personal vs LLC
I have numerous questions on the tax deductions regarding a rental property owned by two people. Certain things can be deducted from your income tax each including property taxes, improvement costs ...
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Wash Sale on Monthly RSU Vests
I haven't really sold any of my RSU's that I received from my company in the 5 years I've been there. To simplify the situation:
I have 100 units at $50 from 2019.
I have 100 units at $150 from 2022.
...
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The Government might have seized my investment assets, how do I treat them on my tax return?
I had money invested in Russia during 2022 through the ETF FLRU. At the beginning of the year when the Russia/Ukraine conflict start the government seized a bunch of Russian assets including this ETF. ...
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Tax treatment of large stock payment
I own stock in a previous employer that has just been acquired. I expect to receive a one-time lump sum payment of about one month’s salary, which I expect will be taxed as capital gains.
Every year I ...
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Canada & Capital Gains Tax: Common Stocks
Is there a Capital Gains Tax in Canada when you gain profit by selling Common Stocks traded at the Canadian exchanges: TSX, TSXV, CSE, or NEO? Providing I am not a Canadian citizen or tax resident! I ...
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Use FIFO one year and HIFO the next?
When computing my capital gains (from trading) from year to year, can I change my calculation method each year? For example, can I use HIFO in a year when the market goes up and FIFO in a year where ...
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Can a self-employed add a new mark-to-market account for day trading?
I am self-employed in USA. I am available during the stock trading time. I am thinking of starting day trading after a few months of preparation. I may begin with scalping. I will keep my current ...
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What is the (tax) aquisition date for stocks aquired via merger?
I own stock that is soon going to be acquired for a mix of cash and stock. I have held the old company stock for a while (qualifies as long term capital gains) but I am likely to need the money soon.
...
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UK crypto capital gains tax - report total start/end value instead of individual trades
I am trying to work out capital gains for cryptocurrency transactions. All of the advice I have seen says that I have to calculate everything based on individual transactions, using the market value ...
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limited company as tax vehicle for renting out flats as addition to day job?
This is a more theoretical question to find out if I understood it correctly. I think to answering the question it is irrelevant where I have to pay taxes since it's more of a number game.
Information
...
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Should I invest in US bond ETF as a US Non-resident Alien? If so, how should I manage the bond portfolio?
I’m currently investing in US market using IBKR with 70% index ETF (QQQ, VOO, etc.) and 30% bond ETF split (only BND at the moment).
I’ve done this for two years
I’m aware that a 30% withholding tax ...
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Am I up for a $100K tax bill when I sell my investment property?
Australia Only...
I purchased a property but never actually moved into it; it has been rented since purchased
I paid $200K originally (1999) and could sell for over $600K today (2023)
So, if I sold ...
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Prepaying tax vs. estimated tax
Does the US government really care whether tax payments during the year are filed as quarterly Estimated Income Tax versus a single prepayment before year's end of >90% of the previous year's tax ...
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Calculating profit on a partial sale of products [closed]
TLDR: How do you calculate profit/loss on individual resales of a bulk purchase of goods with differing values across multiple tax years?
If I purchase a lot of 10 items in 2022 for $1,000, what's the ...
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Can I save capital gains taxes by purchasing stock/crypto as part of LLC?
Suppose I register an LLC in the US and purchase stock or crypto as part of the LLC. When I sell the stock or crypto later on, I would like to use the money to buy real estate. In that case, does the ...
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Convert Trad to Roth IRA during tax year with capital gains losses
I generally prefer to have my retirement savings in a Roth IRA rather than a traditional IRA, so that my returns earn money tax-free. I have a lot of savings in a traditional IRA that I'd like to ...
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Is it better to realize a loss and buy back into a stock at the lower price or just hold it?
Let's say hypothetically you buy 100 shares of company XYZ today @ $150 per share.
You believe in this company and intend to hold the 100 shares indefinitely.
After a short time, the share price ...
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Foreigners pay capital gains on real estate but not stocks?
One thing I don't get about the tax code is that foreigners (people who not resident in the United States) appear to pay no taxes on capital gains from the sale of stock, but when they buy or sell ...
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capital gain tax
Born 1959 in Ireland, immigrated to US In 1981. Purchased a property in Co Meath 2002 for K100. Property consisting of three acres with old uninhabited house structure with many stone outbuildings. ...
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Stablecoin USDT taxation in UK
If somebody buys USDT in an online platform and for example gets 100,000 USDT profit as total, is there a tax to be paid? That person stays in UK.
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In what case(s) does moving assets from a US broker to another US broker incur capital gains taxes?
I read on https://www.investingsimple.com/transfer-fidelity-to-charles-schwab/:
Before you [move assets from Fidelity to Charles Schwab], you ought to be aware of potential capital gains taxes. You ...
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Capital Loss Carryover from Resident status to Non-Resident Status?
In my last year as a US resident I had a short-term capital loss carryover of about $10,000. In the subsequent year I became a non-resident alien. Am I right that this vaporized (make useless) my ...
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If I move into a home I own but allow existing renters to remain can I start the clock on partially avoiding capital gains?
I have had the same great renters for a number of years. I do realize that I can not avoid capital gains on the home appreciation accrued during that time.
But what if I were to move in as my primary ...
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Are my trades business income or capital gain?
I am a Canadian and I spend a lot of money on cryptocurrencies and I want to know if my gains/losses are considered business income/loss or capital gain/loss. My primary source of income is from the ...
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Does calculating Crypto taxes need previous year numbers?
During 2020, I did 100 crypto trades: buying/selling many type of crypto currencies. I used an online service (Bitcoin.tax) to calculate my tax liability for 2020 tax year. It processed all my trades ...
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Do I need to declare capital gain when buying BTC to trade for another coin?
In 2017, I wanted to by XRP. There was no way to buy XRP with fiat, only with BTC.
So I first bought 1 BTC for $20,000
I immediately sent that 1 BTC to an exchange so I can trade it for XRP. The ...
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Capital gain tax on a property sold in India
I sold a house in India in May 2022 and paid Tax Deducted at Source in India. I am planning on repatriating the money to my US bank. I have been declaring the interest income from Indian bank account ...
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How are capital gains handled when selling only a portion of a property?
What are the rules for declaring capital gains and cost basis when selling a portion of a property, not the whole thing?
For example, suppose I buy a property for $1 million and half of that is paid ...
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Am I taxed on the capital passed to my personal account when closing the company in Estonia?
I am a freelance software developer from France. I lead a few others which I hire as contractors to work for companies. I am thinking about opening a company in Estonia as it seems I would be less ...
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Do temporary residents have to pay capital gains tax on unrealized gains when they leave Canada?
Suppose I am a temporary resident in Canada for work or study. I owned some stocks before going to Canada, and bought some more during my stay in Canada. I do not sell any shares during my stay in ...
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Does it a matter for big companies which state they register their company?
If a new company wants to establish in the US, with lots of branches all around the country, is it a matter where (in what state) they register their company, in regard to tax and other costs?
For ...
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Can we keep track of Adjusted Cost Base (ACB) for each individual stock unit instead of treating as single asset ? (Canada tax on capital gains)
Brokerages internally seem to keep track of the cost of each share in a portfolio (one example is fidelity). When selling, other platforms, like QTrade, seem to only let you pick a number of shares to ...
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Can I save STCG on profit from US stocks by gifting them to parents (with no income) who sell them within 24 months from actual date of acquisition?
Short version of the question
Parents have almost no income. I live in India and earn RSUs listed in USA from my employer as perquisites. Can I save tax by gifting them to parents who then sell them ...
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Are Business Expenses deducted against Capital Gains?
Suppose that you run a business in the United States that generates:
$0 in income
$100,000 in short-term capital gains
$20,000 in business expenses
Normally, you can deduct expenses against your ...
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