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Tax Season Is Coming: Understanding Capital Gains Reporting
With the holidays and celebrations in the rear-view mirror, your attention should turn to the next big event. Not Valentine’s Day or St. Patrick’s Day, but April 15, the tax-filing date. Even as you gather paperwork and finalize profits, losses, and expenses from 2019, it’s important to pay extra attention to your asset sales. In most cases, you’ll be required to report capital gains from those sales to the IRS through three forms: 8948, 1099-B, and Schedule D.
Events That Trigger The Deferred Gain
Deferring capital gains is a topic that will always turn heads and ignite discussions. To be clear, it’s not a simple process, but it is attainable. Once you have trodden down the 1031 pathway — checking off every painstaking step to execute the exchange — how can you be certain you can hang onto those gains? No road we travel is without pitfalls. And it’s the wise traveler — or investor, in this case — who recognizes that they cannot afford any missteps.
The Effects Of Taxes When Selling Investment Property
The sale of investment property is taxed differently than the sale of your primary residence. A primary residence allows you to exclude $250,000 of gains when filing single and $500,000 when married filing jointly. Investment property tax calculations aren’t so simple. In this article, we’ll break down the various investment property capital gains tax calculations and provide a few tax-saving tips.
When Are The 2020 Capital Gains Taxes Released?
Finding out next year’s tax rates and brackets can help you get a jump on tax planning or make important decisions before the current year ends. In this article, we’ll look at changes in 2020 taxes and what causes our taxes to change every year.
Capital Gains Tax Rate Treatment On The Way In And Out
Here at Realized, we can help you complete a 1031 exchange to defer your capital gains tax bill and create a tax-efficient investment portfolio. One risk that you face when you defer your capital gains tax bill is that the capital gains tax rate may be different than it is now when it does come time to pay the bill.
Boosting Your Basis To Boost Your After-Tax Cash Flow
Buying and selling real estate should be a fairly simple process. You buy it, it (hopefully) appreciates in value, then you sell it. However, there can be a capital gains tax attached to that profit, meaning your after-tax cash flow (ATCF) could take a hit.
Many Benefits, One Trust: Learning About CRUTS
You could be someone who is respectful of, or has a passion for a particular non-profit organization or charity. Perhaps you donate regularly to this organization, understanding that the money you give can do anything from improving survival rates of diseases, to providing clean drinking water to third-world countries, to supporting homeless animals at the local shelter.
Capital Gains Strategies: Taking Charge Of Your Gains
Most investors are likely aware that geopolitical turmoil exerts its toll on the markets and, in turn, on their investment portfolio. A massive crisis is not even necessary to impact someone’s portfolio value. Market volatility is something every stock and bond investor has to learn to endure.
All Is Not Lost With Suspended Losses
Introduction A nice benefit of real estate investment is all the potential tax benefits. A well-thought-out real estate strategy can generate tax-sheltered or even tax-free cash flow for years. However, as any seasoned real estate investor will tell you, there are times when real estate investments generate losses whether from the aggressive use of allowed depreciation (good) or some vacancy or rental loss (bad). Common sense might dictate that those losses could be deducted in the year they occur, but because real estate income losses are always subject to the Passive Activity Loss (“PAL”) rules of the IRS, this is not always the case.
Digging Deep Into Depreciation And Proposed Tax Reform
Part 5 in the Realized Series "2017 Tax Reform Impact on Real Estate" We’ve been writing extensively on tax reform issues, and for a very good reason. If the GOP’s Blueprint, entitled “A Better Way, Our Vision for a Confident America,” and President Donald Trump’s one-page “2017 Tax Reform for Economic Growth and American Jobs” end up becoming the new U.S. guide for taxes, look for changes on how real estate is acquired, held, and sold.
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