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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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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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219 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 ...
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561 views

Capital gains while living abroad?

Let's say I'm a U.S citizen and have money in a brokerage account at a U.S institution, but I have moved to Germany. Let's imagine that this money generates capital gains. Assuming that I have to pay ...
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21 views

USA tax treatment of additional gain from an escrowed sale

In 2016, a privately-held company in which I owned shares was partially (irrelevant, I think) bought out by a private equity firm. We paid capital gains tax on the amount received in 2016 (minus that ...
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64 views

How do I pay my ineligible IRA contribution taxes?

This is a follow-up question to I may have made an ineligible contribution to a Roth IRA. What should I do? In 2017, prior to Tax Day, I made a TY 2016 contribution to my IRA that exceeded my 2016 ...
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Capital gains treatment of selling all the assets of an S corporation?

I sold the assets—not the stock—in an S corporation that is owned by my spouse and myself. The sale was a cash sale of all income-producing assets of the S corp. Since the sale, the S ...
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103 views

Capital Gains Tax Example - Question

My wife and I are semi-retired and have 3 children under 18. The capital gains rules confuse me (and are pretty depressing). Our reasons for selling the 1 house are to pay for a boat which we plan to ...
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49 views

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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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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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 ...
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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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In the U.S., is one who inherits artwork, antiques, or other such goods required to professionally appraise them before selling them?

Artwork, antiques, or other such goods: the category I am trying to refer to is those things which are sold on a market which is not liquid enough for it to be immediately obvious what the market ...
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What Details Do I Need to Keep for Tax Returns for Arbitrage Trading (UK)?

I've just started doing some arbitrage trading using a couple of online cryptocurrency exchanges, but I'm not sure what details I need to keep for the tax man. Do I need to keep a record of all my ...
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UK Capital Gains allowance and foreign investment funds

In this tax year I am going to realise some capital gains through the sale of shares in investment funds in Spain (this would be the equivalent to UK's OEIC - the kind of funds that are usually bought ...
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259 views

Tax rate of bitcoin trading for non-resident alien

I'm an international student holding F1 visa in the states. I find information on the IRS page which says non-resident aliens are subject to 30 percent flat rate for capital gains. Does this rate ...
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237 views

How to pay capital gains tax for US non-residents?

Some time ago, I worked in the US, set up a brokerage account and bought some stocks, and soon returned to my home country (Canada). Now I sold some of it, and it occurred to me that I probably need ...
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24 views

Reporting of 1256 Based Options

I live in the United States. In 2015 I have traded several 1256 based options. The details of each trade were not included in my 1099 and not imported into Turbo Tax. I understand that this is to be ...
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450 views

Capital gains tax from selling Canadian property for Canadian non-resident

Case: Capital Gain Tax Implications for House in Toronto, ON Purchase value of House in 2000: $230,000 Potential Sale value in 2015: $650,000 Joint-owners: David & Rebecca, married and both are ...
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152 views

What Capital Gains are owed for a Non-resident owning stock in US C corporation when it is acquired?

Would a non-resident alien (no connection to the US apart from the company) owning founder/CEO stock (not stock options) of a private US corporation have to pay capital gains tax in the event that the ...
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677 views

UK taxation for options and futures trading

I live in UK and I see that there are 2 taxes when trading: CGT to be paid on capital gain and is 18% or 28% depending if you are basic tax payer or not income tax on any interest or dividend ...
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81 views

capital gains on oversea property for non-resident of Canada

I live overseas in Belize and have for over 5 years and other than my Canadian Passport I have no other ties to Canada. I'm considering selling my house in Belize and with the proceeds from the sale ...
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Is there a general requirement to track and report Capital loss in Canada?

A website of a certain bank states in its FAQ for buying/selling precious metals (https://preciousmetals.td.com/shop/en/tdmetals/metal-support): "Q: Are there tax implications if I sell my precious ...
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Are there any possible complications when calculating capital gain while trading gold ETR, compared to regular ETFs?

In particular, is MNT.TO ETR treated any different from ETFs when calculating ACB? I assume that it pays no dividends, and thus buy/sell would be the only taxable events, or am I missing anything? I ...
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Canadian citizen, working for a US-based company in Toronto. How will exercising my stock options work in terms of the IRS and the CRA?

I work for a US-based company, but in their Toronto, Canada offices. On a monthly basis, I receive some amount of stock options in the Private corporation, which is based in the USA. I can exercise ...
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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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49 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 ...
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25 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 ...
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64 views

Lending club investments through a numbered company for favorable tax?

I'm part of a lending club in Canada that has just allowed corporate lending. My marginal tax bracket in Canada is 26%, so I'm trying to figure out if there is an advantage to lending through a ...
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157 views

Stock trading for Non resident f1-OPT TAX

I am a non resident alien in F1- Opt status. I purchased some stock and sold them in loss.How would I claim loss in 1040 NR form ? I read the IRS website and found it- "Nonresident alien students and ...
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46 views

European nomad, moving every few years. Tax residence and capital gains tax on purchase and sell of ETFs/Funds

This might be a silly question. Let's say I change jobs and country of residence-always within the European Union-every 3 years, purchasing monthly the same ETF through a local broker on each ...
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81 views

Tax Planning Capital Gains

Tax Planning - I'm retired and want to take my income as close as possible to $45,916.00 using Stock Capital Gains to maintain the lowest tax bracket of 15% and do the same for years to come as I have ...
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HYG vs JNK Capital Gains

How has HYG gone years without paying a capital gains dividend, whereas JNK has paid several? I know avoiding capital gains dividends is good because it reduces the need to pay capital gains taxes, ...
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Am I eligible for capital gains exclusion if I converted home to rental property due to unforeseen circumstances?

I bought my home in December 2014 and lived in it until October 2016. Due to my mother-in-law's illness, in October 2016 we converted our property to a rental property and moved to another city to ...
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488 views

Is forex spread betting legal and/or taxed in Canada?

I have some questions regarding forex spread betting in Canada. 1) Is spread betting legal in Canada? I have found a few unofficial sources that say spread betting is legal in Canada, however I was ...
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37 views

Do wages limit amount of deductions in year with very high capital gains

Does my income from wages (24K) limit the itemized deductions I can take when my total income is mostly from Cap Gains earned from selling a longterm rental property (200K after accounting for base ...
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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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Selling employee stock options now and waiting for Long Term Capital Gains or selling later

I've got some options that I'm looking to exercise and am trying to figure the best way to go about it. I always thought that exercising options and then waiting for long-term capital gains was the ...
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327 views

“Breakeven” point for taxation on short vs long-term stock investments?

Assume that Joe is in the 28% tax bracket. Sale of long-term (greater than 1 year) holdings is therefore federally taxed for Joe at 15%. Joe can either buy and hold for one year (or more) to ...
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Could CRA consider income from frequent trading of listed stock options as regular income, not capital gains?

I trade options on U.S. stocks frequently, several times a month. The income has been taxed as capital gains. I am quite worried that the CRA could turn around and say that I am operating a business ...
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37 views

Calculating capital gains and cost basis after acquisition

I had Aetna stock that has gone through the CVS acquisition. 87.815 shares of Aetna. Value with final stock price of $212.70 is about $18,678. Cost basis of $2,160. CVS acquisition resulted in ....
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Holding Period Algorithms and the Blockchain

According to this interview, taxation holding periods in the United States for cryptocurrency can be determined by FIFO (First In First Out), LIFO (Last In First Out), or a more flexible option called ...
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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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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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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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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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CGT in India and claiming tax credits in UK

Hoping you can advise. With the recent introduction of CGT of 10% on sale of shares in the indian stock market, I wanted to understand the calculations and impact of that when doing self assessment ...
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If I convert a primary residence to a rental, are the cost of improvements potentially lost?

According to the IRS: When you change property you held for personal use to rental use (for example, you rent your former home), the basis for depreciation will be the lesser of fair market ...
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34 views

Capital gains and income paid to a separate account

Is there any form of investment available in the US where the capital gains (when selling it) and the income (e.g. dividends) can be paid into a different account that the one where the money for the ...
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107 views

Can short-term capital gains convert to long-term if the stock is re-purchased?

If I sell a stock within a year but then re-buy it the next day, can it still qualify as long-term capital gains?
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What are the tax implications of transferring call options from my corporate account to my personal account?

Place of residence: Ontario, Canada (personal and corporate). I have call options in my corporate business trading account. (A corporate business account is a business account for a corporate entity.)...