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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Tax Free Exclusion (Capital Gain)

I have question regarding to capital gain tax to a sale of a townhouse in WA State. I just want to see if any of you can provide some advise. Thanks! home purchase in 2008 for 385k and was primary ...
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124 views

Tax Avoidance: Mixing gains and losses in the same tax year?

I am currently looking at liquidating some of my investments and trying to decide which ones to sell, to cover some cash expenditures I will have. For the matter of this question, let's say I need $10,...
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1031 Exchange - Single Family residential - duplex

Is it possible to a use a 1031 exchange to go from a single family residential to duplex where one side is rented the other is lived in?
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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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60 views

Rental property capital gains

I have a rental property that was my residence for 1 year and 10 months before it was converted to a rental. I am approaching 5 years since I bought the house. Am I doomed to pay capital gains if I ...
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What is the cost basis when selling shares received as part of an acquisition?

If I vested 100 options in StartupCo at a strike of $1 and I exercise then I will have paid $100 for those shares of StartupCo. If BigCorp acquires StartupCo and I receive $5 and .25 shares in ...
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58 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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80 views

Filing a 1040 after filing 1040 ES

I'm trying to plan my taxes for 2018 (note, I have already filed taxes for 2017). I have about $5K of short term capital gains that have not had any tax withholding during the time Jan 1, 2018 - Mar ...
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85 views

Tax bracket for vested RSU

I sold some RSUs once they were vested. I see in the Merrill Lynch statement that a certain amount of shares were taken out to cover the taxes. The federal tax is taken @ 25%. Now, when I calculate ...
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52 views

LTCG and income tax will significantly reduce returns?

If I bought set of equities today and sell them next year amounting to a capital gains say 1.5 lakhs. 1 lakh is exempted from LTCG and 0.5 lakh is charged with 10% LTCG tax. If my income salary ...
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Should I sell investment property to pay off student loan debt and variable rate home equity line of credit?

I purchased a home as a primary residence 11 years ago for $210,000. It is now worth $475,000. The mortgage balance is $85k at 3.75% fixed for 30 years (but I am 11 years in). Three months ago, I ...
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134 views

Capital gains when a spouse passes away

I live in California. My husband and I had a trust and when he passed away in October 2017 his half of our condo went into an exemption trust for his two children from a previous marriage. We bought ...
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163 views

Why is capital gains tax on inherited stocks calculated based on the value of the stock when inherited? [closed]

Here in the US, my understanding is that if you inherit a stock, then eventually sell the stock, the capital gains tax is calculated as if you had bought the stock at the price that would have been ...
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What are the requirements to not report all stock transactions on the tax return 1099-B?

I have been trading in 2017 on Robinhood. The 1099-B file they sent me has 500+ pages. When I requested a CSV file, I see just little less than 2000 lines. Export from Robinhood to TurboTax, TaxAct, ...
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112 views

Whom do you tell when you gift a portion of a property in the UK?

Suppose Alice and Bob both own 50% of a rental property each, as tenants in common. Alice gifts 10% to Bob so they now own 40% and 60%. Do Alice or Bob need to declare this gift to any government body?...
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224 views

Which acquisition date is considered when calculating capital gains tax for inherited mutual funds in India?

Let's say (in India): Ravi's father bought units of an MF on 01-Jan-2011 Ravi's father passed away on 01-Jun-2015 The inherited units were credited (transmitted) to Ravi's account on 01-Feb-2017 ...
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44 views

What is the correct cost basis to use for a qualifying disposition?

I sold some ISO stock this year that I've held for the required holding period so they can be treated as long-term capital gains and looking on my Form 8949, I see that my CPA has used the FMV as the ...
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101 views

converted one cryptocurrency for another and immediately sold: 2 events or 1?

I converted X ETC to Y ETH, which I immediately sold (on Coinbase) for Z USD. For IRS purposes, are these one sale or two? If they're two sales, then the gain is the ETC->ETH, I think. (The ETH->USD ...
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Received capital gains dividends from a Canadian mutual fund. Do I need pay tax in Canada?

I have some mutual funds in Canada from BMO. I am a non-resident of Canada. I am U.S.A resident. I recevied capital gains dividends. Do I need to pay capital gains tax in Canada? Or just pay U.S.A.? ...
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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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436 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 ...
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254 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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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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Transferring Stock Holdings to Existing Roth IRA

The US has capital gains taxes that apply whenever gains are realized by selling off stocks and other investment assets. Do these taxes still apply if an individual realizes gains by selling stock ...
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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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67 views

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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654 views

What does a fiscal year end date on a mutual fund mean to an investor?

I'm looking at different funds, however I've noticed the dividend dates are different from the fiscal year end date. My understanding is that mutual funds don't pay taxes and those are passed on as ...
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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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797 views

Do I have to pay Virginia Tax on capital gains from real estate sale out of state?

I sold a residential building lot in Florida in 2017. I am a resident of VA. Do I have to report those gains to VA for taxes? I did for my federal and paid the tax.
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Partial Sale of Private (Foreign) Company Stock

My wife worked for a privately held startup that allowed her to own equity in the company in two ways: 1. She was granted options when she was hired 2. She was allowed the opportunity to buy ...
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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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405 views

Received W2 from ex-employer for selling shares previously bought under ESPP

My wife used to work at Oracle and quit in January 2016. While she was there, she bought Oracle stock under an ESPP (employee stock purchase plan) that allowed her to buy the stock at a discount. In ...
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Under present law will I have to pay capital gains tax after living in a primary residence two years? [closed]

I am going to move into a home this year 2018 which I have owned for 6 years but leased out (initially to family members and later to general tenants). We plan to live in the home as our primary ...
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158 views

How does cost of construction affect capital gains on house?

If I buy land and build a house on the land, can the cost of construction be subtracted from the capital gain when selling the house? For example, if I buy land for $600,000 and then build a house on ...
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531 views

Tax implications of selling property and giving money to children

My friend owns a property in London with no mortgage and wishes to sell it and share the proceeds amongst her three adult children equally. This property is not her main residence. The estimated ...
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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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2answers
87 views

Taxes on selling shares bought over a period of time

If I bought shares of stock abc over a period of time for example: 50 shares @ $100 1 year ago (long term capital gains) 20 shares @ $120 2 months ago (short term capital gains) Today the price is $...
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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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Did the latest tax bill change how cost-basis are calculated when selling stocks? [duplicate]

When the tax bill was still pending, I recall reading somewhere that the bill changed capital gains tax so that instead of using the cost-basis for the stock in question you used a first-in first-out ...
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127 views

Capital gains tax on my home sale where my dad was sole owner

3 years ago I paid to buy a house for $47,000 but was fresh out of college and therefore could not qualify for a mortgage, so my dad signed on the house. After fixing up the house, I closed a sale for ...
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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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107 views

Are capital gains due on investments if none of the money can even be accessed?

I've been learning about cryptocurrencies, mostly from a technical stand-point to develop decentralized applications; however, to get started I purchased a few coins. When the prices rose so quickly, ...
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658 views

How should I pay tax on arbitrage profits?

Suppose I make an instant gain on an arbitrage trade. This is instant profit, so to speak, so technically there is no capital gains made. Do I pay CGT or income tax on the profit? I'm inclined to ...
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2answers
70 views

If I sell positions in my IRA that were bought with non-deductible contributions, do I need to pay capital gains tax?

My IRA has a mixture of deductible and non-deductible contributions. I want to sell off some positions that I bought. Normally I would not need to pay capital gains tax, but if the positions were ...
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1k views

Before renting my house can I sell my house to myself to take advantage of the Capital Gains Exclusion?

This question applies to a property in Washington State in the the United States, although I'm curious how this might be handled on other regions. I'd like to adjust the cost basis of my house prior ...
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Is there double taxation of capital gains from sale of Canadian stock held by U.S. citizens?

Capital gains tax on shares in Canadian company for U.S. citizens: Do U.S. citizens have to pay capital gains taxes on stocks purchased from a Canadian company through a U.S. brokerage? If so, is ...
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Does Net Investment Income Tax (NIIT) apply to short-term capital gains

I'm trying to figure out the maximum effective US federal marginal tax rate for short-term capital gains. In other words, how much more federal income tax would someone owe who incurs a $3M net short-...
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Taxes for selling at a profit and buying other altcoins with it?

Will I only be taxed on cryptocurrency once I cash out and deposit my profits back into my bank account? Or will I be subject to capital gains even when I sold something at a profit and simply bought ...
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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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How to only sell shares(index funds) with long term gains after mid year conversion to vanguard admiral class?

I've never sold in a taxable account before so please bear with me. I bought VGTSX more than a year ago and then upgraded to admiral class last year(and bought more). Now, I would like to sell some ...