Page 7 61 - 70 of 183
Capital Gains Treatments: Mutual Funds vs. DSTs
As an investor, you’re already familiar with capital gains and capital gains taxes. A capital gain is an increase in the value of a capital asset, which is generated when that asset sells. Meanwhile, capital gains taxes are the taxes you owe to the IRS from those realized capital gains from the asset sale.
How Are Capital Gains Calculated On Sale Of Rental Property?
Understanding the calculation of capital gain when selling a rental property is crucial for smart financial planning. The first step in this calculation is to subtract the property's adjusted basis at the time of the sale from the total sales price. This must include any sales expenses such as legal fees and commissions. The resulting figure will be your capital gain on the sale. In order to provide a clear understanding of this process, we will explore this calculation using a hypothetical example in the following sections of our article.
How Do You Treat Interest on An LLC Sale?
When a member of an LLC decides it's time to move on to another opportunity, they may want to sell their interest in the LLC. Selling LLC interest is like selling other capital assets. If the asset is sold above its cost basis, it will generate a profit. The same is true for LLC interest.
How Many Years Can Capital Gains Losses Be Carried Forward?
When an investor experiences a capital loss, they net it against capital gains. If the net transaction is still a loss, the investor may be able to use the loss toward future years.
Do Capital Gains Count Toward IRMAA?
You might be at a point in your life in which you’re considering applying to Medicare or are a Medicare beneficiary. Whether you are covered by original Medicare (Part A or Part B) or have a Medicare Advantage plan, government subsidies can cover the majority of your premiums.
Do You Pay State Taxes on Capital Gains?
Capital gains represent the difference between what investors pay for an asset (plus certain adjustments) and what they sell it for. Capital assets include real estate, stocks, bonds, collectibles, jewelry, antiques, and other items that can increase in value over time. If you don't sell the asset, any increase in its value is an unrealized gain, and won't be taxed, no matter how much the growth is.
Do I Have To Pay Capital Gains Taxes if I Am Over 55?
The Over-55 Home Sale Exemption was a provision in U.S. tax law that historically allowed individuals aged 55 and above to claim a tax break on the sale of their homes. However, this specific exemption was replaced in 1997 with a broader homeowner exemption policy. Contrary to some outdated information, the current tax legislation does not provide any capital gains tax benefits based solely on a homeowner's age. Nowadays, all homeowners, regardless of age, are eligible for a specific exemption on capital gains from home sales as long as they meet specific residency and ownership criteria.
How Long Can You Carry Forward Capital Losses?
Under certain conditions, some tax filers will have a large enough loss to carry forward into future tax years. Does the IRS impose any limits on how long this loss can be carried forward or the dollar amount that can be carried forward? Getting this number right can mean the difference between tax savings or unnecessarily paying more.
Are Capital Gains Considered Income for Mortgage?
When applying for a mortgage, lenders want to be sure that borrowers can handle monthly payments and still have enough money left to pay bills and live on. Given how regulated the mortgage industry is, the income process requires a lot of analysis.
Do You Have to Pay Capital Gains on Livestock?
We’ve written plenty of articles about capital gains and capital gains taxes on the sale of real estate property. But one question that comes up frequently is whether sales of other property types can trigger capital gains taxes. When it comes to farming, for example, does a farmer who sells livestock have to pay taxes on the gain from that sale?
Page 7 61 - 70 of 183
