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A property was my principal residence for the first 2 of the 5 years which ended on the date of the sale of the property. For the 3 years before the date of the sale, I held the property as a rental property. Can I still exclude the gain on the sale and if so, how should I account for the depreciation I took while the property was rented?
A property was my principal residence for the first 2 of the 5 years which ended on the date of the sale of the property. For the 3 years before the date of the sale, I held the property as a rental property. Can I still exclude the gain on the sale and if so, how should I account for the depreciation I took while the property was rented?
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If I anticipate a sizable capital gain on the sale of an investment during the year, do I need to make a quarterly estimated tax payment during the tax year?
If I anticipate a sizable capital gain on the sale of an investment during the year, do I need to make a quarterly estimated tax payment during the tax year?
Frequently Asked Questions
ob体育 do I sign my tax return when I e-file?
ob体育 do I sign my tax return when I e-file?
Frequently Asked Questions
Last year we sold a rental property, acquired a replacement property, and want to use the like-kind exchange rules under section 1031 of the Internal Revenue Code to defer the gain of the rental property sold. ob体育 do I report this transaction on my tax return?
Last year we sold a rental property, acquired a replacement property, and want to use the like-kind exchange rules under section 1031 of the Internal Revenue Code to defer the gain of the rental property sold. ob体育 do I report this transaction on my tax return?
Frequently Asked Questions
What is the basis of property received as a gift?
What is the basis of property received as a gift?
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We hired a nanny to look after our child while we work. ob体育 do we pay her Social Security taxes and properly report her income?
We hired a nanny to look after our child while we work. ob体育 do we pay her Social Security taxes and properly report her income?
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Who can claim the lifetime learning credit?
Who can claim the lifetime learning credit?
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My housemate and I are the legal owners of our house. We have a mortgage, secured by our house, on which we are jointly and severally liable. The house is our principal residence. We each pay one-half of the mortgage, including principal, interest, and real property taxes, from our joint account in which we have an equal interest. I receive a Form 1098, Mortgage Interest Statement, each year. The Form 1098 shows my name and Social Security number, along with the total amount of mortgage interest and real property taxes paid during the calendar year. ob体育 do my housemate and I reflect our respective payments of mortgage interest and real property taxes during the calendar year on Schedule A of our separate Forms 1040?
My housemate and I are the legal owners of our house. We have a mortgage, secured by our house, on which we are jointly and severally liable. The house is our principal residence. We each pay one-half of the mortgage, including principal, interest, and real property taxes, from our joint account in which we have an equal interest. I receive a Form 1098, Mortgage Interest Statement, each year. The Form 1098 shows my name and Social Security number, along with the total amount of mortgage interest and real property taxes paid during the calendar year. ob体育 do my housemate and I reflect our respective payments of mortgage interest and real property taxes during the calendar year on Schedule A of our separate Forms 1040?
Frequently Asked Questions
As a full-time student, am I exempt from federal income taxes?
As a full-time student, am I exempt from federal income taxes?
Frequently Asked Questions
Should I advise the IRS why amounts reported on Form 1099-B don't agree with my Form 8949 for proceeds from short sales of stock not closed by the end of year?
Should I advise the IRS why amounts reported on Form 1099-B don't agree with my Form 8949 for proceeds from short sales of stock not closed by the end of year?
Frequently Asked Questions