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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175 views

Capital gains when selling property

My parents bought a condo in 2005 for $75,000 and rented it out through 2015. I got married in March 2016 and moved in. I paid the HOA and property taxes to my parents. My parents gifted this ...
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2answers
5k views

Can you gift someone money for purpose of investing to avoid capital gains upon inheritance?

After reading through information on capital gains tax and estate tax, I read that a heir of an investment does not have to pay capital gains on that investment. That is it's transferred free and ...
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0answers
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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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3answers
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Taxation on withdraw of basis on profitable stock

I have a stock which I paid $3,000 for and it has accumulated another $3,500 in profit. If I ONLY withdraw my original basis of $3,000 will this be taxed as a capital gain? I feel like it wouldn't be ...
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1answer
759 views

Can I convert fund ACC units to INC units without triggering a CGT event?

I have acquired (via a legacy) some fund accumulation ("ACC") units outside of a SIPP or ISA wrapper. I'd like to convert them to income yielding ("INC") units in the same fund. There are now ...
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2answers
2k views

If I sell shares in the US, will I be liable to pay taxes in US?

I am a South African citizen living in South Africa who works for a large US company. As part of my compensation, I receive restricted stock units (RSUs) which my country considers to be part of my ...
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1answer
52 views

ANDV/MRO merger options

In the ANDV/MRO merger, ANDV shareholders can request MRO shares, cash, or a blend of both. What are the cap gains implications? I'm thinking that exchange of ANDV to MRO shares would trigger no cap ...
2
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1answer
80 views

Inheritance Tax on money received abroad

I am a dual UK and Bangladeshi citizen who recently inherited money from my father in Bangladesh. I want to bring the money over to purchase a flat in the UK. Would i be liable to inheritance tax?
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1answer
161 views

Do I have to pay capital gain taxes in 2019 in this case?

Let's say that I bought a stock in August 2018 and sell it in February 2019 for a profit, do I have to pay capital gain taxes for this stock when I file my taxes in 2019? The reason I asked is ...
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0answers
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 ...
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1answer
364 views

What is the best way of minimizing a 10K capital loss?

First, thanks for the help! I recently sold a stock at a loss of $10,000 (I guess a capital gains loss). My question is how should I minimize my losses? If I have another stock for which I have a $...
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1answer
227 views

Wash Sale Treatment Using Different Tax Advantaged Accounts [duplicate]

As a follow-up to this question: Wash sale rule impact on different scenarios between different types of accounts Do HSAs and 401k's fall under the same treatment as IRAs when computing tax losses? ...
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2answers
110 views

estimated IRS tax payments

We sold some U.S. government Savings bonds in June of 2018 that had a gain in interest of double our yearly income. A one time sale. Now, I'm thinking that I will owe quite a bit in taxes and I'm ...
2
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1answer
186 views

how to compute holding period on real estate

For the purposes of computing long term versus short term capital gains tax treatment, when does the holding period for real estate end? I can think of several options: At execution of the purchase ...
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1answer
109 views

Tax free savings account

I know that this type of account does not exist in the US. For those who know, is there absolutely no tax deducted from my earnings when I invest in stocks? For example, if I turn 10000 to 1 million, ...
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1answer
685 views

LIFO versus FIFO for selling RSU

I have RSU's vesting from my company periodically in USA. I would like to sell them to diversify in an index fund. How do I choose between LIFO and FIFO for the maximum resultant cash? FIFO First in ...
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1answer
100 views

Will an international student owe capital gain taxes upon selling the property if they didn't live there for 4 years?

I am trying to figure out the Capital Gain taxes on a property in Toronto. I am very new to this, so sorry if I say something weird. I live in a condo, which I own, and I am thinking of renting it. ...
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1answer
144 views

Sale of a home in Thailand and Repatriating Funds to US

My wife and I purchased a home in Thailand 5 years ago and we lived in it for about 40 months. The property was purchased in my wife's name since I am unable to own land in Thailand. We Purchased ...
4
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1answer
190 views

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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0answers
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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0answers
19 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 ...
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1answer
141 views

Question about taxes on stock in the USA

I bought 1000 of stock A at price of 20. Two hours later, the stock price for A went down to 17, and I bought 1000 more of them, and two hours later, the stock price reached 19, and I sold all 2000 ...
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1answer
85 views

capital gains tax on fungible assets in the united states (long term rate vs. short term rate) [closed]

I bought 1 unit of asset A in year 1 Then I bought a 1 more unit of asset A in year 2 Later in year 2 I sold 1 unit of asset A. Asset A is fungible. Can I use the long term capitals gains tax rate (...
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1answer
71 views

How do capital gains tax work on a property where you finance the buyer?

I have a second property (home) which, due to tax law changes, I will now owe income tax on gains if I sell. But how does this work if I finance the sale? Suppose the hypothetical sale price was $...
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1answer
54 views

How to consider capital assets in DCF analysis?

I'm calculating an enterprise value with the DCF analysis. In DCF I consider revenues - costs, and I also discount reinvestments. These reinvestments are to get more capital. How can I take into ...
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1answer
106 views

Investing proceeds from foreign vacation home sale

We bought a vacation home in the UK in 2006 for 182000 pounds, including purchase price, closing costs and improvements, when the pound was stronger ($1.8/pound), and wired $327000 directly to the UK ...
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2answers
189 views

Unexpected cash - pay off debts or buy home (to reduce child support expense)?

There are quite a few people who seem to handle personal budgeting questions, so I'll ask here, as my situation recently changed. I am a recently divorced father of 3, and was ordered to pay child ...
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1answer
437 views

How to file and pay income tax for ITR2 in India? What is the order?

I have following incomes Salary Interest income from fixed deposits Short term capital gains from sale of equity stocks Long term capital gains from sale of debt mutual fund Searching for it leads ...
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1answer
3k views

How can you minimize taxes on cryptocurrency trading?

I bought one Ethereum last year for around $350 and ended up selling it early this year for around $1350. From what I'm reading, capital gains will be close to 40% on the $1000 I made. Is there a ...
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3answers
188 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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0answers
53 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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1answer
140 views

How do transaction and transfer fees affect the ACB of cryptocurrency assets?

Currently cryptocurrencies are taxed as capital assets in Canada, which uses the ACB when calculating capital gains and losses. I understand how to calculate ACB adjustments when buying and selling ...
4
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2answers
169 views

Incentive stock options, tax lots, and long-term capital gains

I have shares of a company I got from exercising before the company went public. Some shares I've held for less than a year, some for more. I exercised all the options after holding them for a year. ...
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1answer
432 views

I am Indian Resident, and would like to gift my daughter who is PIO as well as US Citizen now

I am Indian Resident, and would like to gift my daughter who is PIO as well as US Citizen now. Pl answer following queries : Will gift tax be applicable in such case to donor (per Indian law) and/...
4
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1answer
107 views

How US government bonds with different face interest rates would be taxed?

The 5 year interest rates in the last 2 years have gone up from 1% to 2.8%. So, in secondary market there are US government bonds with 1.5% and 2.75% face coupons. What I am trying to understand is - ...
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1answer
55 views

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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2answers
187 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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1answer
39 views

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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0answers
438 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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1answer
68 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 ...
3
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1answer
73 views

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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1answer
88 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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2answers
90 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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1answer
99 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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2answers
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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1answer
1k views

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 ...
8
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1answer
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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2answers
171 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 ...
2
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3answers
7k views

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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1answer
115 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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