Questions tagged [capital-gains-tax]

Questions related to the tax liability from the appreciation of assets, e.g. stocks, mutual funds, real estate.

80 questions with no upvoted or accepted answers
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151 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 ...
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380 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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152 views

Will I get trouble with CRA, if I withdraw yearly maximum Capital Gain without paying tax in ON for many years?

Assume I get 0 income and my Capital Gain doesn't fall. I live in ON. Call F the maximum federal ($12069 in 2019), and P the maximum provincial ($10582 in 2019) basic personal amounts. Retirement ...
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47 views

Capital Gains Tax and Main Residence

If I changed my main residence 4 years ago, but did not inform HMRC, then can i register for the dates i actually changed my main residence when i sell my older property, in order to avoid paying more ...
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88 views

How can you leverage the benefits of an older spouse's retirement account?

Can a marriage with a large age gap and a young high-earning spouse benefit from, for example, a Roth IRA? Let's say Jack and Jill are married. Jill is 50 and makes $25,000/year while Jack is 25 and ...
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32 views

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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27 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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100 views

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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117 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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718 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 ...
3
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1answer
112 views

How much tax will be due on my earned income and capital gains?

I turned 24 this year, and my Mom and Dad are thinking of giving me stock that they have owned for over 1 year to pay for my college expenses. The basis of the stock is under $28k ($14k from each of ...
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1answer
66 views

Should I file every stock I sell when I do my tax report?

As a way of saving money for future I started investing into the stock market 1.5 years ago. I do not think much of it, I usually play around rather than treating this seriously. I didn't invest much ...
2
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121 views

If you are married, your house's capital gain is tax free for the first $500k. But what if your spouse is not a citizen?

If she is not a citizen or if she doesn't not have a green card yet, does this apply? I think the rule is that she also has to live in the house for 2 years in the past 5 years, so she will need to ...
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49 views

UK Capital Gains Tax on Property - Deductible costs

Over 16 years ago my mother gifted me £40k from the sale of her home that I agreed to use towards buying a flat in my name for her to live in. There was a proviso to the gift that I was to give my ...
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222 views

Is there a 1031 Exchange equivalent in Ireland?

I've recently been looking into buying real estate investments, & I've read about a 1031 Exchange in USA. Here is a definition I've found: Thanks to IRC Section 1031, a properly structured ...
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25 views

Tax on Canadian investments for a Canadian expat in UK

I have never studied accounting before looking for some guidance on my issue. I have investments in Canada that I have to file tax returns for capital gains and dividend income. However my primary ...
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67 views

How to calculate capital gain on gold coins in Canada?

In case of purchasing multiple gold coins (assume same kind of coin) on several occasions, for the purpose of capital gains tax calculation upon resale - does one have to calculate adjusted cost base ...
2
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1answer
183 views

Formula to Calculate FIFO VS LIFO for Financial Instruments

Suppose an individual partakes in some mixture of short term trading and long term investing. Is there a multivariate formula that expresses under what conditions (average/variance of time in a ...
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24 views

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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51 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 ...
2
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1answer
221 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 ...
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79 views

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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36 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 ...
2
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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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84 views

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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68 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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52 views

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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38 views

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 ...
2
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275 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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264 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 ...
2
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27 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 ...
2
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531 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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0answers
154 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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878 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 ...
2
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83 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 ...
2
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1answer
500 views

Germany: Declaring taxes for large number of short-term trades

Assume I am using an automated system to buy and sell stocks or other regulated financial assets (bitcoins, ...) multiple times a day, each time making a small win or loss. Additionally, I am doing so ...
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19 views

Combine 121 and 1031 - how much capital gain is non taxable?

Section 121 allows $500k of cap-gain to be non taxable (in the right circumstances) Section 1031 allows the deferral of capital gain taxes (in the right circumstances), and they can be combined. But I'...
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22 views

UK: How does gift holdover relief interact with potentially exempt transfers?

An elderly acquaintance is considering gifting some shares in the family business to his children. There is significant capital gains accrued on the shares (which said relative has held for decades), ...
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51 views

Can a capital loss on a gilt be set against the interest received when tax is calculated?

Say if I buy a 3.75% gilt for £103, with a redemption date 1 year from now, then at the the end of the year I should receive £3.75 interest from coupons, but I lose £3 of capital. The total gain is £0....
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18 views

1031 Exchange Scenario

I'm looking to sell a single family rental property for $400K and buy two with a 1031 exchange. I should have about $150K to put down. I may look at turning one of the new properties into my primary ...
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50 views

Lowest tax implication for selling an inherited house

Context: A homeowner passed away in 1999 and the house ownership was moved into a trust. At that time the house was worth ~120k. It is now worth ~400k. The beneficiaries are divided equally among 3 ...
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42 views

Renting and selling a US house while being a EU resident

Clearly anybody can buy a residential property in the US. If one buys for investment and lives in EU (say UK) where does he/she pay rent and sales tax? US or UK?
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33 views

US securities/brokerage account, owned by non-resident; tax liability

Assume the following scenario: natural person (not US citizen or Green Card holder) is tax-resident in some European (EU) country owns a US-based securities/brokerage account that holds shares of a ...
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0answers
35 views

How do I use MI-1040D for capital gains/losses in other states?

Say we have a full-year nonresident of Michigan, who has wages of W, attributable to Michigan, and a capital gain of G from selling stocks. Since they are a nonresident, the capital gain should not ...
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1answer
73 views

How does a US citizen residing in the US file taxes for earnings in an Estonian Company?

As an e-resident of Estonian, I worked for my Estonian company in the US working with US contracts. I earned income (say $100k) that was partially distributed to myself as the sole owner (say $50k ...
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103 views

Being put on the property deeds of jointly owned house

This is my conundrum. I bought a house 17 years ago with my brother. The problem we have is that I am not on the deeds. We bought the house as an investment property. I was not considered for the ...
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0answers
66 views

Capital gain tax on stocks for nonresident alien under USA-German tax treaty

I am trying to understand the tax treaty between USA and Germany but this is a pain. I am in the USA on a student visa and considered to be a nonresident alien for tax purposes. I had some gain from ...
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0answers
42 views

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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28 views

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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18 views

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 ...