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Would i be able to enter this sale in TurboTax? - YES If i do pay cap gain taxes to Canada, is there a way to report that in turbotax and get credit for the ta...
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Tax on excess IRA contributions An excess IRA contribution occurs if you: Contribute more than the contribution limit. Make a regular IRA contribution for 2019...
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Purchased house for $104000 + $16000 improvements = $105,600 basis. Sold in Sept 2022 for $408000 (net) - $105,600 = $302,400 capital gain. $302,400 capital ...
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You would only pay tax on the interest earned during the tax year, if any. There is no tax on the return of the principal (amount loaned to your friend) .
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The 1031 specialist firm handles all of this for you. You may want to find a company since they will be able to walk you through your options.
Activity Feed for VincentL2
- Got Cheered for Re: Reporting Canadian capital gain taxes. November 16, 2022 2:15 PM
- Posted Re: Reporting Canadian capital gain taxes on Get your taxes done using TurboTax. November 16, 2022 12:36 PM
- Got Cheered for Re: Sale of depreciable real estate. November 16, 2022 12:27 PM
- Got Cheered for Re: My spouse died in this year. November 16, 2022 12:21 PM
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- Posted Re: In 2022 received an inheritance from someone who lived in NYC and passed away in NYC. I also live in NYC. on Get your taxes done using TurboTax. November 16, 2022 10:40 AM
- Posted Re: My spouse died in this year on Get your taxes done using TurboTax. November 16, 2022 10:37 AM