Let's say I make a $1,000 investment into a mutual fund on Jan 1, 2016. On the 1st of every subsequent month through Dec 1, 2016, I contribute an additional $1,000. By end of year, my total purchase price is now $12,000. In the middle of January 2017, Let's say the market value of the fund is now $15,000 and I want to sell. Can someone help explain how capital gains tax would work in this scenario for the $3,000 gain? Some specific questions below the fold. [more inside]
My mother-in-law is selling, or thinking of selling, a house she's owned forever. It's been paid off for decades. She hasn't lived in it for 5 years (has had it rented out by a property manager) and is looking at a huge capital gains tax if she sells. What alternatives does she have to reduce the tax burden? [more inside]
Taxfilter: I sold a condo in April. I sold it for $5,000 less than I bought it for, but I walked away with some money because I had owned it for 10 years and paid down the principal. I had been renting it out for 4 years before I sold it because I moved to a city nearby. I also put about 10K into renovations over the past few years. Do I have to pay any capital gains taxes? Is it worth it to try to get any kind of credit for the loss I took when I sold it for less than I bought it for?
Has there been any serious discussion or analysis of "swapping" capital gains tax rates (by raising them) and income tax rates (by lowering them)? [more inside]
So I was just wired ~$23,000 into my checking account from a foreign bank. How much (if any) tax do I have to pay on this? [more inside]
If I've held a stock for ninety days, but te company is bought out in an all cash transaction, do I still have to pay short term capital gains, or do I qualify for different tax treatment?
How do I calculate a mutual fund’s book value after selling only a portion of units held if I have been using a dollar-cost strategy and investing a set amount of money in the fund regularly? How does this impact my ability to report profit/capital gains? [more inside]
Do higher rates of taxation for high-earners kill entrepreneurial spirit? [more inside]
Recovered escheated stock in Massachusetts - how is it taxed? [more inside]
CapitalGainsFilter: I got less than $20 from my mutual fund distributions, my only capital gain this year. Must I fill out Schedule D on my (US Federal Income Tax) 1040? Schedule D gives me a migraine, I'd rather stay away if possible. [more inside]
Hi! I live in Canada and am catching up on my taxes. While I was a student I was day trading through a discount brokerage. Upon my request for a summary of Capital Gains/Losses, the discount brokerage I use told me that this is something I have to do on my own. [more inside]
[Tax/Stock Filter:] Employee Stock Purchase Plan advice especially in re: taxation [more inside]
UK Tax question: How long do you have to be resident in a house for it to be your residence, for the purposes of capital gains tax? [more inside]
I'm in a really weird housing market (Baton Rouge, LA). Should I get out and rent for awhile until it calms down? Any ideas about weighing capital gains tax vs. possible profit I might lose if prices nosedive before my 2 years are up? [more inside]
If I live in the downstairs flat of a duplex and rent out the upstairs for 3 years and and then move to the upstairs and rent out the downstairs for 2 years, can I take a reduction on the entire property and not have to pay capital gains?
Does anyone know of a simple guide to calculating my refund on Massachusetts capital gains taxes for 2002? The state's instructions are long and, at first glance, incomprehensible. [more inside]
CapitalgainsFilter: I bought a new house and my old house is set to go on the market on Monday. I'm just two months shy of the 2 years minimum residence requirement for avoiding capital gains taxes, and will make sure the old house isn't sold before that cut-off date. But do I really have to sleep in the old house all the way up to the end date? [more inside]
Question re: Capital Gains taxes on a home sale [more inside]