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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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In which direction should a Return of Capital (ROC) affect the Adjusted Cost Base? (Canada, CRA)

I'm trying to accurately track my Adjusted Cost Base for a few different mutual funds, and one of these funds has reported a negative amount for box 42 of the T3. -- this cell reports the Return of ...
pf_init_js's user avatar
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1 answer
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Receiving Freelance Payments as an NRI: NRE vs. NRO Account

As an NRI residing in Singapore, I completed freelance work for an acquaintance in India. Now, I'm seeking advice on the most suitable method to receive payment: Should I use an NRE or NRO account in ...
CuriousCase's user avatar
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Should I enter the non-adjusted cost basis or the adjusted cost basis in Box 1e in Form 1099‑B in TurboTax for ESPP (Employee Stock Purchase Plan)?

I'm filing my taxes in the US since I reside in WA state and I'm being asked by TurboTax to enter "Box 1e - Cost or other basis Learn more" for some Employee Stock Purchase Plan (ESPP) ...
Franck Dernoncourt's user avatar
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3 answers
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Better to fully liquidate and then reallocate position (partially back into same asset) if earlier holdings cost basis lower?

Say I have $1,000 in stock X and I'd like to rotate $500 into stock Y. If cost basis for earlier shares are lower (and taxes are assessed via first in, first out for sales), selling $500 of stock X to ...
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In the US, which shares should I sell if I want to keep the most compounding effect?

This is for the US. I have been doing DCA: Dollar Cost Averaging, so I have been buying Apple and Google (and some Amazon, QQQ, S&P500 ETF) regularly, perhaps $100 per day, in my regular personal ...
Stefanie Gauss's user avatar
3 votes
2 answers
1k views

How is holding time calculated for long-term capital gains tax?

Say I have an account with the following buying history: Date Symbol Price Quantity 01/01/2023 AAPL $300 3 shares 01/01/2022 AAPL $100 1 shares 01/01/2021 AAPL $100 1 shares If I were trying to ...
jed's user avatar
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Tax Calculation for Liquidity Pool Transactions: Cost Basis Method and Procedures

I've been encountering difficulties in calculating taxes on transactions related to liquidity pools. Despite using Coinledger, I've found it doesn't support multiple transactions within a liquidity ...
Summer's user avatar
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Gifting Shares of a Mutual Fund - Tax Considerations

Let's say U.S. tax resident bought one share of a mutual fund back in 2010 for $100, and it is worth $200 today. A) If they wanted to gift that share to family today, would they be liable for any gift ...
mathemagician's user avatar
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Stocks Capital gains and losses [duplicate]

My question is about capital gains and offsetting them with losses. All my gains and losses are short term. I do not invest for the long term I understand how this works for 1 calendar year. For ...
OptionTrader's user avatar
3 votes
2 answers
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capital gains liability of holdings "transferred" out of ISA?

I have an ISA with Freetrade. I bought shares of Arrival between 2021 and 2022. Arrival has been delisted. Freetrade has notified me: Further to our previous notification, this stock fails to meet ...
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Is it a Wash Sale from a Capital Gains Perspective if I was to sell Nasdaq ETF and buy Nasdaq 100 ETF?

If I was to sell 100 units of ONEQ and use the proceeds to buy NDX, would I have any tax liability on the capital gains from a first sale or would it be considered a wash?
mathemagician's user avatar
5 votes
1 answer
920 views

What investments for US expats don't trigger taxes on unrealized gains

As is well known, if you are a US citizen but don't live (or even never have lived) in the US, investing is complicated. Most investment capital gains are taxed in both countries. Even worse, if you ...
WetlabStudent's user avatar
2 votes
1 answer
554 views

Do charitable deductions apply to long term capital gains, or only ordinary income?

Let's say I have an income of $100k and long term capital gains of $500k. If I make a charitable donation of $200k cash, will that first reduce my ordinary income by $100k and then my LTCG by $100k, ...
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1 answer
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Costs deductible for vacation home built remotely with a builder

I built a vacation home with a builder and sold it two years after completion. My main home is in Texas, the second home was built in Arizona. Costs for construction of the home and costs for ...
Billy Crash's user avatar
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Assuming a bullish stock, any advantage in using LT RSUs to fund exercise cost of ISOs?

Example Present Information: Example Dummy Stock: GGG | Stock Price @ $10 Super bullish and so assume the value of the stock price will go up. ISOs: 10,000 with SP @ $5.00 (All vested, just not ...
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3 votes
2 answers
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Is there a 0% capital gains bracket?

Currently I'm on the upper end of the 0% capital gains tax bracket. In 2023 I made $3K from interest, $3K from dividends, and $37K from long-term capital gains (no other income). When I calculate my ...
Zachary Vance's user avatar
-1 votes
1 answer
114 views

Wash Sale Rule on a new repurchase and sale of the same stock

A newbie here! I have PayPal stock for over two years and my total return/losses is over -$2000 now. I bought and sold $700 of new stock a few days ago, for tiny profit, and I just found out about the ...
joe w's user avatar
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2 votes
1 answer
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How to file for FIPRTA tax withholding and can I request interest from IRS?

I sold my property in 2020 and prepaid FIPRTA tax withholding since I am a foreigner. Theoretically, the tax withholding is supposed to be refunded the same year during the tax season. However, IRS ...
usr01's user avatar
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Tax and selling a property in the U.K. before moving to Canada

I would appreciate some advise on this: If you sell a property in the UK to move to Canada, and then transfer the money from the sold property to Canada, will you have to pay tax in Canada on the ...
ichi's user avatar
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Does a bankruptcy cancel out capital losses? (US)

If I filed for chapter 7 bankruptcy does the amount of the debt discharged in bankruptcy cancel the prior capital losses i had so that I am unable to use those losses to cancel capital gains? Are ...
sterid's user avatar
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Why do charitable donations of ESPP shares need to first be held long term for US tax purposes?

I often see advice like this for tax advantages of charitable donation of shares: If the donated shares were acquired from incentive stock options (ISOs) or an employee stock purchase plan (ESPP), be ...
All The Rage's user avatar
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UCITS ETF Capital Gains Taxes Different Depending on Stock Exchange?

If a certain UCITS ETF is domiciled in Ireland and is traded on both the Swiss SIX and London LSE exchanges (same ISIN but traded on both exchanges), will the tax implications (or broker’s automatic ...
MTC's user avatar
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Calculation of taxes on sale of shares where company spins off a business in separate entity

I invested in Motherson Sumi Systems Limited from 2017 to 2021. There were no new investment made after that. During last few years the company spun off the its wiring business into another entity ...
Naveen's user avatar
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6 votes
9 answers
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How are dividends good for stock/share investors?

With every stock going ex-dividend, the stock price seem to drop by the amount of dividend per share. A few observations: The dividend seems to be earned at the cost of capital gain. The amount ...
fahmi's user avatar
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3 votes
2 answers
207 views

Does the capital gains tax apply this tax year or next if I initiated a sale today but it won't complete until the new year?

I have tried several Google and Stack Exchange searches, and I tried looking through the IRS website, but I haven't found anything that answers my specific question. I may have made a mistake. Last ...
CPomerantz's user avatar
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1 answer
120 views

What happens to long-term capital losses that are transferred due to Wash Sale rules?

From Fidelity: According to the tax code, short- and long-term losses must be used first to offset gains of the same type. But if your losses of one type exceed your gains of the same type, then you ...
morsecoder's user avatar
2 votes
0 answers
101 views

How does the Bed and Breakfast rule affect capital gains tax calculations when it spans across tax years?

The B&B rule confuses me a bit since disposals are matched with future acquisitions (done within 30 days). What happens to tax calculations (for each tax year) if the tax year ends in between the ...
George Flourentzos's user avatar
3 votes
1 answer
106 views

UK tax treatment for structured products with capital at risk

An important class of investment instruments available to retail investors are structured products (SP). These are usually designed to display income-like features (coupons) but whose occurence or ...
Daneel Olivaw's user avatar
4 votes
4 answers
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Do I receive any economic benefit when a Mutual Fund makes a distribution?

Do I receive any economic benefit when a Mutual Fund makes a distribution? I am asking this question from the point of view of someone evaluating my income. Let’s say to evaluate how much I should pay ...
Chuck2289's user avatar
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2 answers
319 views

How is 401k basis calculated? (Warning, wrong question.)

Normally if you sell one equity and buy another with that money, any gains or losses are reflected in your taxes at the time you do that rebalancing and you have a new cost basis on the new investment....
keshlam's user avatar
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5 votes
1 answer
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Canada/Ontario Principal residence exemption

I bought my house in 2013 and have been renting it to present time. I never lived in it. I am thinking of starting to live in the house in 2025 and 2026 and then sell it in 2027. What do I have to do ...
user122866's user avatar
1 vote
1 answer
385 views

RSUs: Can the cost basis for sell-to-cover transactions be calculated using FIFO, or does it have to be LIFO?

My RSU vesting happens with an associated sell-to-cover transaction for tax purposes. The page on my brokerage (E-Trade)'s website shows the cost-basis for this transaction as though it was calculated ...
Deadly Piglet's user avatar
2 votes
1 answer
144 views

How to disburse capital gains between two people with minimal taxes?

My daughter and I bought a house together in 2022. I contributed money for the down payment. We have paid equally all of the mortgage and expenses. We are selling it now, it is on the market. I am ...
Rita Cook's user avatar
2 votes
1 answer
217 views

Can Schedule A medical expenses offset long term capital gains?

My elderly parents have recently started incurring very significant expenses for in-home care. They are considering selling a vacation home with a long-term capital gain to cover their caregiving ...
KnowItAllWannabe's user avatar
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1 answer
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Delay Self Assessment Return

I am a international student holding a residence visa. A month ago, I began my degree program, and I have some income from a non-ISA savings account. I recently noticed that the deadline for filing my ...
top ROOKIE's user avatar
0 votes
1 answer
119 views

espp tax calculations when loss does not exceed discount

I have participated in four ESPP grants at my current company and am trying to do some tax planning. I've read the following as research: https://www.irs.gov/faqs/capital-gains-losses-and-sale-of-...
jph's user avatar
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-1 votes
1 answer
315 views

If my company is going to be acquired for $50m, how can I avoid high taxes? [closed]

Let’s say for example I have a company that is going to be acquired for $50m and I own half it as a cofounder. How can I avoid a large tax hit? I know someone who received $25m from an acquisition and ...
Timmy Dillo's user avatar
3 votes
2 answers
2k views

Why is an ETF that generates less capital gain distributions better for some investors?

Question From an investor prospective, why an ETF that generates less capital gain distributions to the investors is better than one that generates more distributions? Note, I am not talking about &...
Fuzzy's user avatar
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1 vote
0 answers
91 views

Can you sell shares before ex-dividend and buy back after, to replace 'dividend income' by 'capital gains'?

Note: this is the opposite direction than most sell/buy questions over dividend day. Here is the situation: I have large losses from unrelated trading activity, and can only deduct 3000 per year from ...
Aganju's user avatar
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0 votes
1 answer
106 views

Is holding US stocks through a US broker enough to have to report to US taxes

I was never a US resident and I don't have a citizenship or green card. However, I would like to invest via an American broker, simply because they have the best commissions. I am not sure which US ...
john goodheart's user avatar
3 votes
1 answer
458 views

Avoiding penalties and interest on long-term capital gains taxes without paying estimated taxes

I have a question about tax penalties and interest Suppose my total tax due was 30,000 last year, and all of that was due to employment. Suppose this year I expect to have about the same 30,000 taxes ...
Jules Yasuna's user avatar
5 votes
1 answer
3k views

How do you determine purchase date when there are multiple stock buys?

I buy 5000 shares of ABC on Jan/01/22 for $100,000 ($20.00/share) I buy 2500 shares of ABC on Feb/01/22 for $100,000 ($40.00/share) I now have 7500 shares with a cost basis of $200,000 ($26.66/share)...
AlanSTACK's user avatar
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1 vote
2 answers
134 views

Working around IRA contribution limits using options

Lets say I have a taxable brokerage account with $1k of shares for ABC. I'm reasonably sure ABC will go down over the short term but don't want to sell it so I buy puts. But since I just opened a Roth ...
swiley's user avatar
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2 votes
1 answer
2k views

Can I include the costs incurred for adding landscaping to the cost basis of my house?

Although there is a $250,000 gain exclusion for those who qualify, it's probably a good idea to track costs beyond original purchase price to track a more accurate cost basis. I've read that expenses ...
Dan the Man 2015's user avatar
2 votes
1 answer
831 views

Taxes for selling property in foreign country

I've been owning half of the house in Russia before I immigrated to the US and I recently inherited the 2nd part of it. Now I'm thinking to sell it. Should I pay any taxes in the US if I sell it? I'm ...
Rainmaker's user avatar
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11 votes
2 answers
4k views

Figuring out the tax basis of property inherited 15 years ago

In 2008 my father died. 15 years later I just sold the property that I inherited from him. Now I need to pay capital gains on that property, but what do I use as the tax basis? I could just assume the ...
neubert's user avatar
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2 votes
0 answers
21 views

Calculating Foreign Exchange Capital Loss on Margin Loan Repayment

Let's assume I convert 10,000 CAD to 5,000 USD and hold it for one year. During that year, I also make some trades using money borrowed from the brokerage firm (i.e. trading on margin). Afterward, I ...
AlanSTACK's user avatar
  • 1,570
0 votes
1 answer
92 views

Which stock to sell?

Situation I am based in the USA and own two stocks from the same company, one that I bought at a price of $50, and one that I bought at a price of $70. I have held each one for over a year, to avoid ...
dwally89's user avatar
1 vote
2 answers
232 views

Built a house on property. Florida residence when can we sell the property and avoid fed capital gains?

Sold primary house in 03/2021, and then bought land in 05/2021, address assigned same month. Lived on the property in RV. Built a house on the property. Florida residence, when can we sell the ...
firedawg3996's user avatar
0 votes
1 answer
180 views

Can I also use my US capital losses in Italy?

I’m a United States (US) citizen and a US resident and have been both my whole life. I have (1) US source capital loss carryover from previous years and (2) US source unrealized capital losses. Let’s ...
ma11hew28's user avatar
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