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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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1answer
1k views

What do the components of the taxable income in the Schedule D Tax Worksheet mean?

The Schedule D tax worksheet calculates the tax on the taxable income by first decomposing the taxable income in line 1 into lines 19, 20, 28, 31, 37 and 40, then taxing on them at different tax ...
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1answer
333 views

Transferring Money from India

I am living in US for 17 years and became US citizen October 2015. My brother who is living in India gifted me the property in India, July 2015. He registered that property in my name in 2014, that ...
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4answers
10k views

Do altcoin trades count as like-kind exchanges? (Deferred capital gains tax)

2018 EDIT: Although this post was inspirational, US Congress addressed this issue in the Tax Reform law of 2017, and any trades after Jan 1st 2018 cannot have this treatment. The few years of ...
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2answers
244 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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3answers
10k views

Tax implications of restricted stock units

Last May I had been with my company for a year so I got the first grant of restricted stock units (RSUs) that vest over 4 years. Based on this answer to a related question, I am thinking I should have ...
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2answers
8k views

taxes, ordinary income, and adjusted cost basis for RSUs

My company offers RSUs — restricted stock units — as a benefit. These vest after a certain amount of time, and in 2013, my first chunk vested with a value of about $6400. As I understand it, at that ...
3
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1answer
2k views

Are traditional IRAs worse than taxable brokerage accounts at high incomes?

Brokerage accounts are seen as relatively tax-inefficient, since you invest with post-tax dollars, and growth is taxed upon realizing gains. The traditional IRA allows you to deduct contributions and ...
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3answers
176 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'...
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1answer
64 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. ...
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1answer
104 views

Wash Sale Rule on Overall gain

Day 1: I purchased 100 stocks of ABC for 100$. The stock went down and I purchased additional 100 shares for say 80$. Now, my average is 200 shares for 90$. Day 2: The stock went up and I sold all ...
34
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3answers
5k views

What is it called when you sell and reinvest to pay lower taxes?

Every year or so, I sell my investments and then immediately buy them again. I do this because I'm in a low enough tax bracket that I don't have to pay capital gains on my long term investments, so I'...
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2answers
756 views

Wash sale rule impact on different scenarios between different types of accounts

When wash sale rule kicks in, then the capital loss is simply postponed by increasing cost basis to the later transaction where you again purchased similar replacement stock either 30 days before ...
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1answer
17k views

How does tax withholding work for capital gains of selling stock?

I am new in the United States, and before I moved here I did not deal with the concept of tax withholding and capital gains tax. I understand my employer withholds part of my salary to pay taxes, and ...
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5answers
2k views

Scared of money being “locked away” in retirement accounts

I have a reasonably comfortable emergency fund, some other savings, and some accounts I manage myself invested in stocks and funds. However I have only a minimal sum in pensions and retirement ...
10
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2answers
616 views

At tax time, what is the proper way to report cryptocurrency earnings and fiat income when you've started with “nothing”?

Back in 2011 I started mining Bitcoin. I earned no more than .75 BTC. At that time, it was worth no more than $0.75. I began to trade my bitcoins for alt-coins. Regarding taxes and cryptocurrencies ...
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1answer
1k views

What should I use as the cost basis for stock that was purchased before becoming a US resident?

I held some stock in Australia for 14 years and 4 months that has enjoyed some healthy long term capital gains in that time. Recently I became a US Resident for Tax Purposes under the Substantial ...
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0answers
150 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 ...
3
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3answers
20k views

Capital Gains in an S Corp

In this question about s-corp distributions, the answer was given that an s-corp taxes all profit as personal income. That is, there are neither distributions nor dividends which can be taxed at a ...
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3answers
471 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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3answers
415 views

Wash sale repetition through chaining

Wash sales seem to have very weird behavior, here's an example. It uses all the same stock, and there are no other holdings besides those mentioned. Day 1, buy 100 shares for $200 each, so $20,000 ...
8
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2answers
952 views

What are the “capital gains” my ETF is distributing to me alongside its dividends?

Today I noticed several ETFs I own, including SLYG, opened at a significantly lower value than they closed at yesterday (SLYG was $7.975 lower to be exact). Apparently yesterday a dividend was ...
5
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1answer
232 views

Selling Gifted Stock - Capital Gains, Gift Tax, AGI/Deductions

My wife and I received a gift of $100k stock from a relative two months ago. Cost basis of the stock was $30k, purchased by that relative 5 years ago. We hope to sell the stock to use for a down ...
3
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1answer
181 views

Capital gain tax for selling house just bought?

My wife and i just bought a house but due to new circumstances we may have to sell it less than a month after buying it (we cannot keep it vacant or rent it). The house cost $160K. Say we sell it for ...
3
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1answer
501 views

How does capital gains tax work when buying the same stock at different times?

Say, for example, I bought 10 shares of stock XYZ on January 1, 2018 and I buy another 10 shares of the same stock on April 1, 2018. Then I wait until January 1, 2019 to sell all the shares of my XYZ ...
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2answers
2k views

Minimize capital gains on sale of investment/rental property

I bought the property in 1979 for $40K. It was zoned R4 and was a duplex. Several years later, the city camein and did a blanket rezoning of the entire street to C-2. I shared the house/owner-occupied ...
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2answers
401 views

Bitcoin Cost Basis Purchases

Suppose that a client purchases 10 BTC over a price range of $180 to $290 and transacts twice with his BTC for a total purchase of 2.7BTC. Two questions: Based on this, the IRS taxes bitcoin like ...
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2answers
3k views

Tax consequences of changing state residency?

If I move to a different state that has a different tax rate, how does that affect how my taxes are computed? For example, I live in Massachusetts which has both income taxes and capital gains taxes. ...
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0answers
122 views

Partial exclusion from short-term capital gain due to change of job

My wife and I, filling taxes jointly, just closed on a $160K house on July 22nd. Due to unexpected circumstances I will have to quit my job in the US and get a new job in Europe. As a result we would ...
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2answers
326 views

Estimated Tax on Unplanned Capital Gains

I would like to sell stock valued at $X for combined long-term capital gains of around $Y. The sale would be in July. I expect the tax on the gains alone to be well over $1,000. When you're in the ...
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1answer
178 views

Capital gains loss, can IRS waive the loss?

I have a capital gains loss of $250K and an IRS debt of $200K, this happened through series of mistakes. I'm currently in non-collectible status. I understand that the IRS has 10 years to collect on ...
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2answers
1k views

Capital Gains Tax with Multiple 'buy' Transactions per Stock (U.S.)

Suppose the following (in the U.S.): On 2014-01-01 I buy a single XYZ stock for $100. On 2014-06-01 I buy an additional single XYZ stock for $500. On 2014-12-01 I sell a single XYZ stock for $900. ...
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1answer
78 views

Can I change a cost basis method retroactively?

On Form 8949 of my 2017 tax return, I reported short-term (Box C) & long-term (Box F) "transactions not reported to you on Form 1099-B". Will the IRS allow me to file an amended return that ...
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3answers
274 views

Withholding for unexpected Short-Term Capital Gains and Penalties

Every year, when paying my taxes, I typically get a small amount back from the Feds, and usually pay "less than $400" to my state. However, within this 2016 year, I unexpectedly made a large amount ...
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1answer
522 views

Selling stocks as LIFO or FIFO

Hi all, I'm about to begin investing and was curious about how the IRS handles purchasing the same stock. Example: I purchase 50 shares of CS of NASDAQ:PODD on 1/1/2000 @ $50.00 I purchase 50 ...