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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47 views

How can I manually delete or regenerate California Schedule D (540) in TurboTax?

How can I manually delete or regenerate California Schedule D (540) in TurboTax? I'd prefer not to have to start over the California tax section in TurboTax. Motivation (TL;DR: incorrect cost basis ...
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Taxation on LLC capital gains

If I formed an LLC with private investors and had short-term capital gains then, Are the capital gains taxed on the amount excluding the dividends/profits paid to investors? Will the investors have ...
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143 views

How is the profit of a sale of stock calculated for taxes if the initial investment amount is divested, and the profit remains invested

I hope the title is accurate/descriptive. Open to suggestions edits if something makes more sense after reading. The best way I can describe this is with a scenario. So: $5,000 is invested in stock A ...
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72 views

Capital gains and unable to claim it as my primary residence because I have to work from overseas

Is there a way for a partial exclusion in this situation: I left the US in 2016 to work from Istanbul, and still no end in sight as to how long I will be here. I have to sell the property (the only ...
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18 views

Delay in submitting W-8 BEN

I left the USA on 1/31/2019 for India, and have been in India ever since. According to 1040 NR instructions on page 10 (dual status tax payers), I could be argued as being a non-resident for 2019 ...
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1040 NR Capital gains Line 14

As a non-resident alien, I was told that I do not have to pay capital gains tax in the USA. Why then is there line 14 for reporting capital gains in 1040NR?
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34 views

Long term capital gains tax on equities in India

Which of the following is applicable to long term capital gains on Indian stocks and on foreign stocks? a) Long-term capital gains are subject to tax at 20%; b) Long-term capital gains arising from ...
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25 views

Short term capital gains tax on equities in India

I read that the short term capital gains tax in India is 15% if there is securities transaction tax, and if there is not, short term capital gains is taxed as ordinary income. I have the following two ...
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Net short term capital gain in India [duplicate]

Suppose I have two securities A and B in India. I sell A at a profit of 100 INR, and B at a loss of 90 INR. Both transactions are short-term. So my net gain is 10 INR. But I buy B immediately ...
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92 views

Taxes on selling a house I rented

I paid $200,000 for a house in 2007. I lived there until 3 years ago, at which point I rented it out because the real estate market was not good. Now, it is able to be sold for $250,000 I understand ...
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What assets/earnings are included as “income” when determining capital-gains tax rates? [duplicate]

According to Investopedia, people pay varying long-term capital gains tax based on an income-based rate schedule. It appears that a person with single tax-filing status who earns less than $39,375 (...
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82 views

Can wash sales turn profit into loss after taxes?

Consider a person who repeatedly changes allocation between 2 securities within a few days, by selling the security whose prices went up and buying the security whose price when down. Is it possible ...
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Taxation of capital gains on leveraged ETFs

Are capital gains on leveraged ETFs in the USA given a tax treatment different from the tax treatment given to capital gains on stocks? Leveraged ETFs use derivatives to generate their returns, and ...
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168 views

Crypto-cashback debit card tax (UK)

I have a pre-paid VISA card with a 2% cashback paid in cryptocurrency in every purchase. I was wondering how this is taxed?
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Can I ignore form 2439?

I got my first form 2439 (Undistributed Long-term Capital Gains). After doing research, it seems that since I didn't actually get any money, the net result is a not-so-large gain after I sell the ...
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Taxation of foreign capital gains for Indian residents

How are capital gains on specifically foreign stocks taxed in India for Indian residents? Are they added to income and taxed at ordinary tax rates? If yes, can capital losses be deducted from ordinary ...
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58 views

Holding period determined by closing date?

I own a stock (purchased on June 3, 2019) that I plan to sell once it becomes a long-term holding. I expected that to happen tomorrow (June 3, 2020) or later, so I was surprised when I looked at my ...
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Should I sell investments to pay for grad school?

I'm planning to attend graduate school (USA), which will cost around 200k over 3 years. I have about 200k in highly appreciated stock (basis average of 100k, long-term gain) in a personal investment ...
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Can share losses from previous tax year offset property capital gain in current tax year

I made a loss in stock market in previous years with the total amount of £40,000. This was declared in my self-assessment. This year, I made capital gain from selling a BTL property and profited £45,...
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Publication 523 - “residency” on “Gain Exclusions” selling primary residence

Part of the Publication 523 from the IRS guides on Capitol Gains states the following: "If you were ever away from home, you need to determine whether that time counts towards your residence ...
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62 views

How much do I need to pay as taxes for this investment? How to calculate it?

I am relatively new to both investing and doing your taxes in Germany. I have read many articles, none of which were official documents because I couldn't find them (also I don't know German). But I ...
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27 views

Year End Taxes for Property Sale

My grandmother & grandfather (who are now divorced if that matters) purchased a 5 acre lot in Texas in the 1980's for $30,000. In 2017 my grandmother signed her portion of the deed over to me and ...
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43 views

Is there any tax liability for non-residents who withdraw investment income into a UK bank account?

Let's say Bob is a resident and tax domiciled somewhere outside the UK, e.g. Singapore. Bob opened a stock brokerage account with a European broker, and the account is funded through a UK-based ...
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Can long term capital loss be claimed in India when shares are moved to escrow account for dissolution

I am an Indian resident taxpayer. I had shares of Yahoo which were traded as Altaba Inc. (AABA), held for more than 4yrs in a US demat account. The company has filed for dissolution last year and ...
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39 views

Do short term capital losses have to be used against long term capital gains for tax purposes?

As explained in this article, I understand that short term capital losses can be used to offset long term capital gains: Long-term gain with short-term loss Again we have to consider two ...
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Property owned by a child “A” and a parent (50/50), gifting child “A” 50% interest to a parent

My mother and my sister co-own an apartment. My sister wants to gift all of her interest to my mother. On my mother's will, I am sole beneficiary. After my mother's passing, what is my capital tax ...
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264 views

When would holding U.S. stocks in a non-registered account be better than in a TFSA?

Assume your RRSP is full, and you must buy U.S. stock in TFSA or in an unregistered [aka non-registered] account. The default answer seems to be TFSA! If you have an RRSP, a TFSA and a non-...
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67 views

Did these trades cause a wash sale?

I bought and then sold a stock for a gain on April 15th. I bought the same stock again last week and I am going to sell it for a loss. Is this a wash sale? This is USA.
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144 views

Can capital losses be used to offset capital gains for California state taxes?

California treats capital gains just like normal income Suppose I have capital gains of $10k and capital losses of $8k Will this add $2k (from $10k - $8k) to my California taxable income? Or will ...
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85 views

Will employees paid in Bitcoin, etc be subject to capital gains upon transferring to fiat in the US?

A company is able to pay its employees either partially or at 100% in Bitcoin. The company reports and withholds the appropriate USD equivalent on the employee's tax return. If the employee holds the ...
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What kind of inventory accounting does the UK use?

I'm in a bit of a pickle with regards to my tax residency. I am not sure whether I should pay my Capital Gains tax in the UK or Romania for the 2019 tax year. I made a lot of transactions last year, ...
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107 views

Understanding Ethereum network fees for tax purposes

My question is in relation to UK tax as explained in this document, however it should be applicable to other jurisdictions as well. Ethereum is a platform for decentralised finance. Unlike Bitcoin, ...
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Personal wallet transfer fees in relation to UK tax on cryptos

Reading UK's official guidance on cryptoassets, I understand that pretty much anything that you do with your cryptos is classified as a disposal: Individuals need to calculate their gain or loss ...
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221 views

What is the cost basis of fractional shares closed during stock-split from multiple lots?

I bought shares in XYZ three different times: 2017: +100 2018: +150 2019: +160 At this point, I have a total of 410 shares. In 2020, the stock split with a ratio of 971 to 1000, which is a ...
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For 2019 returns, how are long term gains discounted, if schedule D line 16 amount is entered directly onto line 6 of 1040?

for 2019 returns, if schedule D line 16 amount is required to be entered onto line 6 of 1040 -- taxed as ordinary income -- how is long term capital gain distribution able to receive favorable tax ...
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How is Net Investment Income (NII) calculated?

I'm failing to find the exact formula for how Net Investment Income is calculated. (Note that I'm not interested in how the net investment income tax is calculated. That seems to be very well covered.)...
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200 views

Does one need to report capital gains below the UK allowance?

The Capital Gains tax-free allowance for 2019-2020 is £12,500. Do I need to send HMRC a Self Assessment tax return if I made less than this amount? Or, if I only have losses to report, do I have to ...
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How does dual residency apply to Capital Gains Tax?

Note: I know this is a highly specific question, but I'm posting it here because I already talked to two professional tax advisers and they did NOT know the answer. I was born in Romania and lived ...
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32 views

UK capital gains on foreign currency loans

I read CG78335 but I am now more confused than before: Again, a chargeable gain or allowable loss may arise on the currency which is disposed of when the loan is repaid. From the point of view ...
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229 views

Question: “Qualified Dividends and Capital Gain Tax Worksheet — line 12a” 1040 2019

2019 was not a good year and my taxable income(1040 line 11b) is $3600. I had dividend and LTCG income so Schedule D sends me to this worksheet: Qualified Dividends and Capital Gains (page 33, ...
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3k views

$0 in taxes if stock losses from previous year exceeds stock profits from this year?

Let's use this example for US taxes: let's say someone losses $50,000 in the stock market one year, then makes $50,000 the next year. Do they pay $0 in taxes for the latter year? I see that you can ...
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Tax on crypto earned as income but sold later

Suppose I do some work as a freelancer in exchange for Ether tokens, but I do not sell them right away. I hold them for a while, but eventually dispose of them within the same UK tax year. Do I have ...
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2answers
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$0 in taxes if capital gains and ordinary income meet this threshold?

Example for 2019 US taxes: let's say a single filer made $10,000 in ordinary income and $35,000 in long term capital gains. Would they pay $0 in taxes? From my research, it's a 0% tax rate on long ...
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104 views

Capital gain tax on airdropped or gifted cryptocurrency

Let's suppose I receive 100 XYZ tokens this week without conducting any service in return and sell them a week later. My understanding is that I have to know the fair market value of one token at the ...
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1answer
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Should interest on CFD positions be subtracted from UK capital gains?

The question title says it all. If I open a CFD position and hold it for a while, I will be charged interest. Can that be subtracted from the net gain or loss of the trade?
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Can transaction fees for same-day trades be deducted from UK capital gains?

Let's assume I buy and sell the same amount of shares on the same day and that the net result is zero, excluding transaction fees. Can - or should - these fees be deducted from the capital gains tax?
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Do long term capital losses offset short term capital gains?

Assuming I had only two transactions this year: 1) Sale, long term, A-company stock resulting in a $10,000 loss 2) Sale, short term, B-company stock resulting in a $10,000 gain Does this mean, my ...
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Are there straightforward ways to deduct fees for investment management?

If I pay a business to actively manage my personal investment account for profit, is there any straightforward way to deduct those fees from capital gains on those investments? Before TCJA, ...
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45 views

Tax implications when paying off debt with a non-monetary asset

Let's assume I take a loan and the lender requires the interest to be paid in a non-monetary asset, which we shall call XYZ. In the eyes of HMRC, XYZ is considered to be equivalent to company shares, ...
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Should trades be averaged under the “same day” capital gains tax rule?

Say you have the following list of trades: Buy 100 XYZ at £50 a share on March 1st Buy 100 XYZ at £51 a share on March 1st Sell 200 XYZ at £60 a share on March 20th This would result in a net profit ...

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