what is the capital gains tax rate for an investment property i sold this year.  It was coporate owned by me a
812825
Your question isn't worded grammatically correct and, I believe, is being misinterpreted.  Are you saying you owned part of a corporation that you purchased as an investment and sold it after a year?  If you owned stock in a corporation and held it for over a year and sold it, you will have long term gains (or losses).  If this is the only capital gains you had all year, it will be taxed at 15% if your marginal tax rate is greater than 20%, and it will be taxed at 5% if your marginal tax rate is less than 20%.  If it is a loss, it will offset other income up to $3,000...the remainder (if any) will carry over to next year.  If you had other gains or losses, all of them net together.
1135699
That depends.  If it was your principal residence, and if you lived in it for 2 out of the last 5 years immediately prior to the sale, then you may exclude up to $250,000 ($500,000 if married filing jointly) in gain from federal taxes.  Excess gains are taxed as capital gains, as is the entire gain if you don't meet the ownership, residency and/or occupancy conditions.\n\nCA law may vary on that.  Consult a tax advisor in CA for full details.
434134
See, there are lots of issues which determine the taxability of capital gains under I T Act1961 .You have not given complete detail.\n    Presuming , its a residential property, then first the compuation has to be done by taking the Indexation method . Find out the date of purchase of the residential property and cost as on that date. If it was purchased before 1984, then market value as on 1.4.1984 has to be taken as cost and then indexation has to be applied.\n    This way, capital gains has to be computed. If there is capital gain is there, you have following option\n   1. Purchase /construct a residential house within two years of the amount equal to long term capital gain.\n   2. If you do not want to purchase immediately, but plan to purchase within   3 years, deposit the amount of capital gain in SBI or other bank in Capital Gain Account scheme , before filing return of income.\n  3. Under 5EC of the I T Act, there are capital assets in which if capital gains are invested for at least  three years, then the capital gain is exempt from taxation.\n\nHope your
294888
You should check with a good accountant (not one of the walk up places like H&R). I am pretty sure that Capital Gains is to be paid only on amounts over $250,000.
270161
First off did you pay taxes on the Dividends that you received from the Mutual Fund or did you pay taxes on both the earnings of the mutual fund and the Dividends.  \n\nIf you haven't paid taxes on the earnings every year then you have to pay taxes on the entire amount of earnings. (Your current value of the fundsdifferencee cost basis) In this case your cost basis is simply the initial investment.  \n\nIf you have paid taxes on your earnings.  Then the cost basis is the amount your reported last year.  For example if you reported that the value of your fund went up from $100 to $150 in 2004 and you paid the taxes on that $50 earning.  Then for 2005 your cost basis will be $150 and you would pay the taxes on the diffrence of that $150 and your current value.\n\nWithout knowing any more specific information about your situation I don't believe I can give better advice then that.\n\nBelow are some websites from the IRS on accounting methods and selling of stocks/mutual funds.\n\nMonteverde2\nUS Army Tax Preparer
847026
shouldnt be any so long as you effectively live in one of them until of them are sold.  if you are liable to cgt then you can claim the costs of conversion as well as your original purchase price as the purchase price
795082
I think you may have confused the Tax Collecor with the Property Appraiser Rob Turner.  \n\nYou can find who owns the property by entering the address at the Property Appraiser Web Site I've included below.
379215
if you've lived in your current principle residence for at least 2 years out of last 5 years, then you have $250k tax free capital gain (or $500k for married couple). any gains over this amount will be taxed regardless whether you invest in another house or not.
627801
No, you can't avoid capital gains tax. Unless it is in an IRA if you sell it you pay taxes. That may not be that bad. If it is a long term gain bite the bullet and pay the 15%. The 15% maximum capital gains tax is a big windfall to someone in your situation. No one likes to pay taxes but in your case it is pay me a little now or a lot later.\n\nIf it isn't a long term gain yet then certainly wait until it is.
728481
I'm no tax attorney, but you should be able to.  My mother-in-law owns rental property - she just did some work to it and plans on writing it all off this year.
597227
did you use the interest and taxes as deductions in the past (you should not have technically)\n\non non personal property (you did not live there) that is not (has not) generated income the interest and taxes are added to the base cost of the property (this will help reduce your gain; it is not a capital gain though)\n\na property that is purchased to be sold and not rented is treated the same way as inventory would be treated (you pay income tax, it is not a capital gain)\n\nif you have a loss it is applied against your income to reduce your taxable income\n\n\n\nTaxation – Lesson 7\nCMA Canada - July 2004 Page 31\nBusiness income versus capital gain\nIn most cases, a business is readily identifiable by the nature of its activities. For example, the manufacture and development of computer chips for resale would constitute\na business. Sometimes, however, it is difficult to distinguish whether income from a transaction is business in nature or capital gain. The sale of land can be either a capital transaction or a business income transaction depending on the facts of the circumstances.\nThe distinction is important because, as you will see, business income is fully taxed whereas only one-half of capital gains are taxed. Moreover, business losses can be\napplied against all other sources of income (e.g. capital gains or employment income), whereas capital losses are only available for offset against capital gains. Business income\nis taxed less favorably while business losses are treated more preferentially. The full amount of business income is taxed in the year that it is earned while only one half of\ncapital gains are taxable, in the year in which the gain is realized. Business losses, unlike that of capital losses, can be used to offset income from all other sources.\nThe chief factor in distinguishing a business activity from a capital gain transaction is the intended use of the property on acquisition. The principal reason for the purchase and the subsequent use of the property will determine the type of income of the profit (loss)\ngenerated upon sale. If the property was acquired for the purpose of resale, then its disposition is likely business income. i.e. if the property purchased is considered\ninventory, then all profits triggered upon sale would be considered business income.\nConversely, property acquired for the purpose of providing the owner a long-term benefit is likely capital property; its disposition creates a capital gain or loss, i.e. any gains generated upon the sale of capital assets used in the course of running a business are deemed to be capital gains.
631114
Technically yes - but only on a proportion of the total gain.  The period relating to your living there is exempt from CGT, as is a further three years (based on an old assumption that it may take you a long time to sell).  There are further exemptions depending on your circumstances - eg if you are employed abroad or working away from your home town for certain periods.  It is more complicated if you own a second home as well, in which case you should get specific advice - or put more details on here and I`ll try to help!
709679
The only way to reduce the taxes on the gain on real estate is to do a "Section 1031 Exchange".  The only problem is that you do not receive cash.  You received another piece of real estate.\n\nThere is not a way to reduce taxes on the sale of stocks at a gain.
947667
stock sales are taxed. last year it was at your regular tax rate.
818363
Yes...capital gains on Shares,which are listed abroad, are liable for Capital Gains Taxation. Note that it is taxable @ 20% + surcharge + cess (depending on the tax bracket u are in.........if ur income is Rs. 10 lakhs +, then it is 22.44% else 20.40%) & not at 10% (since not listed in India but in USA). I presume that the holding period is more than a year, else it will become a short term capital gain & taxable @ 33.66%. Indexation is available & yes u can defnitely get exemption from tax by investing in an apartment (Sec 54 F of the Income Tax Act) if u are not owning more than 1 house (before the proposed buy) on the date of sale.
967093
This is a tricky one.\n\nYou would pay capital gains taxes on the difference between the sale price and the basis.  The basis would include the original cost plus any improvements.  The property taxes were probably deducted each year so you can not add those to the basis.  You may get a "stepped-up" basis for half of the land based on the fair market value of land on the date of his death.\n\nIt is time to see a professional.  I would not attempt this on your own.
17861
Yes.  you will have to pay taxes on capital gains.  For more information on investment clubs, please visit: \n\nhttp://www.investmentclubhelp.com/